Is Summit Lake, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Summit Lake has remained a Neutral Market.
Key Takeaway
Summit Lake is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Summit Lake, OH
How much do homes in Summit Lake, OH cost?
Median Sold Price
$70,000
$77/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Summit Lake have sold for 10.2% more than they did a month ago.
Summary: The median home sold price in Summit Lake was $70,000 in April 2024, up 10.2% from last month, and the median price per square foot was $77.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $45K | $94.5K | +110.0% |
| 4 Bedrooms | - | $53K | N/A |
| 5+ Bedrooms | $82K | - | N/A |
Summary: Summit Lake housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 110%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Summit Lake, OH
How many homes are available in Summit Lake, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 18 | +38.5% |
Summary: The Summit Lake real estate market had 18 homes for sale in April 2024, a 38.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 6 | 8 | +33.3% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Summit Lake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Summit Lake, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Summit Lake in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Summit Lake, OH
How long does it take to sell a home in Summit Lake, OH?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 26 Days | 66 Days | +156.4% |
Summary: Homes in Summit Lake had an average of 66 days on market in Apr 2024, up by 156.4% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Summit Lake has remained consistent over time.
Summary: During April 2024, 3 homes were sold in Summit Lake; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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