Is Sheffield Lake, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Sheffield Lake has remained a Seller's Market.
Housing Prices in Sheffield Lake, OH
How much do homes in Sheffield Lake, OH cost?
Median Sold Price
$194,500
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Sheffield Lake was $194,500 in March 2024, up 8.1% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $165K | $165K | 0.0% |
3 Bedrooms | $176.5K | $189K | +7.1% |
4 Bedrooms | $207.5K | $219K | +5.5% |
5+ Bedrooms | $80K | $267.5K | +234.4% |
Summary: Sheffield Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 234.4%.
Median Sold Price Compared To Nearby Cities
Avon Lake | $330K | $365K | +10.6% |
Sheffield Lake | $179.9K | $194.5K | +8.1% |
Sheffield | $354K | $345K | -2.5% |
Housing Supply in Sheffield Lake, OH
How many homes are available in Sheffield Lake, OH?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
37 | 30 | -18.9% |
Summary: The Sheffield Lake real estate market had 30 homes for sale in March 2024, a 18.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 10 | 8 | -20.0% |
3 Bedrooms | 14 | 13 | -7.1% |
4 Bedrooms | 13 | 9 | -30.8% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Sheffield Lake housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 30.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 9 | -35.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Sheffield Lake in March 2024, down by 35.7% month-over-month. Of the 9 sold homes, 33% were sold under asking, 22% were sold at asking, and 44% were sold over asking.
Days on Market for Sheffield Lake, OH
How long does it take to sell a home in Sheffield Lake, OH?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
29 Days | 51 Days | +77.6% |
Summary: Homes in Sheffield Lake had an average of 51 days on market in Mar 2024, up by 77.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 9 homes were sold in Sheffield Lake; 33% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.