Is Vermilion, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Vermilion was a Seller's Market.
Housing Prices in Vermilion, OH
How much do homes in Vermilion, OH cost?
Median Sold Price
$220,000
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Vermilion was $220,000 in March 2024, up 3.4% 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 | $121K | $89K | -26.4% |
2 Bedrooms | $156K | $172.5K | +10.6% |
3 Bedrooms | $195K | $192K | -1.5% |
4 Bedrooms | $272.5K | $285K | +4.6% |
5+ Bedrooms | $462.4K | $425K | -8.1% |
Summary: Vermilion housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 26.4%, 2 bedroom homes increased by 10.6%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes decreased by 8.1%.
Median Sold Price Compared To Nearby Cities
Vermilion | $208K | $220K | +5.8% |
Vermilion | $212.7K | $220K | +3.4% |
Vermilion Township | $217.5K | $215K | -1.1% |
Brownhelm Township | $240K | $228K | -5.0% |
Housing Supply in Vermilion, OH
How many homes are available in Vermilion, OH?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
49 | 49 | 0.0% |
Summary: The Vermilion real estate market had 49 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 15 | 16 | +6.7% |
3 Bedrooms | 25 | 23 | -8.0% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Vermilion housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 6.7%, 3 bedroom homes decreased by 8%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 7 | -41.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Vermilion in March 2024, down by 41.7% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% were sold over asking.
Days on Market for Vermilion, OH
How long does it take to sell a home in Vermilion, OH?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
46 Days | 19 Days | -56.9% |
Summary: Homes in Vermilion had an average of 19 days on market in Mar 2024, down by 56.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in Vermilion; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.