Is Elyria, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Elyria has remained a Seller's Market.
Key Takeaway
Elyria is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elyria, OH
How much do homes in Elyria, OH cost?
Median Sold Price
$169,972
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elyria have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in Elyria was $169,972 in May 2024, up 10.3% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $115K | $123.2K | +7.1% |
| 3 Bedrooms | $155K | $168.8K | +8.9% |
| 4 Bedrooms | $187.7K | $214K | +14.0% |
| 5+ Bedrooms | $156.8K | $230K | +46.6% |
Summary: Elyria housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 46.6%.
Median Sold Price Compared To Nearby Cities
| Sheffield | $339.7K | $379.9K | +11.8% |
| Elyria | $154.1K | $169.9K | +10.3% |
| Elyria Township | $154.4K | $170K | +10.1% |
| Sheffield Township | $132.2K | $142.5K | +7.8% |
| Carlisle Township | $250K | $246.7K | -1.3% |
Housing Supply in Elyria, OH
How many homes are available in Elyria, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 203 | 206 | +1.5% |
Summary: The Elyria real estate market had 206 homes for sale in May 2024, a 1.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 25 | 28 | +12.0% |
| 3 Bedrooms | 114 | 126 | +10.5% |
| 4 Bedrooms | 47 | 40 | -14.9% |
| 5+ Bedrooms | 17 | 11 | -35.3% |
Summary: The Elyria housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 10.5%, 4 bedroom homes decreased by 14.9%, and 5+ bedroom homes decreased by 35.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 60 | 62 | +3.3% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elyria, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 62 homes were sold or pending in Elyria in May 2024, up by 3.3% month-over-month. Of the 62 sold homes, 39% were sold under asking, 11% were sold at asking, and 50% were sold over asking.
Days on Market for Elyria, OH
How long does it take to sell a home in Elyria, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 28 Days | -14.9% |
Summary: Homes in Elyria had an average of 28 days on market in May 2024, down by 14.9% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elyria are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 62 homes were sold in Elyria; 66% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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