Is Vermilion, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Vermilion is a seller's market

Buyer's
Market

Difference Since October 2021

Since last year, Vermilion has remained a Seller's Market.

Key Takeaway

Vermilion is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Vermilion, OH cost?

Median Sold Price

$218,750

$130/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$43,750(+25.0%)

Key Takeaway

Homes in Vermilion have sold for 25% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $92K$90.7K
-1.4%
2 $147.5K$156K
+5.8%
3 $166.2K$192.5K
+15.8%
4 $192.9K$281.9K
+46.1%
5+ $310K$230K
-25.8%

Median Sold Price Compared To Nearby Cities

Vermilion
+25.0%
Brownhelm Township
+21.7%
Vermilion Township
+19.6%
Vermilion
+17.3%

How many homes are available in Vermilion, OH?

Number of Homes For Sale

Sep 2022Oct 2022%
5646-17.9%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 00
0.0%
2 83
-62.5%
3 2622
-15.4%
4 1918
-5.3%
5+ 33
0.0%

Number of Homes Sold

Sep 2022Oct 2022%
1711-35.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Vermilion, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
34 Days49 Days+43.6%

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Vermilion has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Vermilion, OH

Number of homes for sale in Vermilion, OH real estate market have reached 46. The number of homes for sale in Vermilion, OH decreased by 17.9% between September 2022 and October 2022. While the average time on the market in October 2022 was 49 days, the median list price was $218,750. Between September 2022 and October 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices decreased by 1.4%, prices of 2 bedrooms properties went up by 5.8%, the cost of 3 bedrooms properties went up by 15.8%, prices of 4 bedrooms properties went up by 46.1%, 5 bedrooms properties prices decreased by 25.8%. The following changes in the number of homes for sale were observed in this housing market: volume of 1 bedroom homes stayed the same, 2 bedrooms homes inventory decreased by 62.5%, 3 bedrooms homes became 15.4% less available, volume of 4 bedrooms homes went down by 5.3%, the quantity of 5 bedrooms homes have not changed. In October 2022, from all listings sold in Vermilion, OH there were more than 4 sold above asking price, over 6 sold below and more than 1 were sold right at the asked price.

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