Is Lake County, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lake County has remained a Seller's Market.
Housing Prices in Lake County, OH
How much do homes in Lake County, OH cost?
Median Sold Price
$214,992
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake County was $214,992 in April 2024, up 7.5% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $70K | $119.9K | +71.3% |
2 Bedrooms | $137.6K | $151.2K | +9.9% |
3 Bedrooms | $189.7K | $207.3K | +9.3% |
4 Bedrooms | $296.8K | $310.9K | +4.7% |
5+ Bedrooms | $385K | $329K | -14.5% |
Summary: Lake County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 71.3%, 2 bedroom homes increased by 9.9%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 14.5%.
Median Sold Price Compared To Nearby Counties
Lake County | $199.9K | $214.9K | +7.5% |
Ashtabula County | $149.9K | $159.8K | +6.7% |
Cuyahoga County | $182.8K | $189.6K | +3.7% |
Geauga County | $330.2K | $340.8K | +3.2% |
Housing Supply in Lake County, OH
How many homes are available in Lake County, OH?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
680 | 690 | +1.5% |
Summary: The Lake County real estate market had 690 homes for sale in April 2024, a 1.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 106 | 125 | +17.9% |
3 Bedrooms | 393 | 380 | -3.3% |
4 Bedrooms | 144 | 149 | +3.5% |
5+ Bedrooms | 37 | 35 | -5.4% |
Summary: The Lake County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 17.9%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 5.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
221 | 212 | -4.1% |
Asking Price vs. Sold Price
96 Homes Were Sold
Under Asking
35 Homes Were Sold
At Asking
81 Homes Were Sold
Over Asking
Summary: A total of 212 homes were sold or pending in Lake County in April 2024, down by 4.1% month-over-month. Of the 212 sold homes, 45% were sold under asking, 17% were sold at asking, and 38% were sold over asking.
Days on Market for Lake County, OH
How long does it take to sell a home in Lake County, OH?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
43 Days | 38 Days | -10.5% |
Summary: Homes in Lake County had an average of 38 days on market in Apr 2024, down by 10.5% compared to last year.
Breakdown of Home Sale Times
120 Homes Were Sold
Under 30 Days
70 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Summary: During April 2024, 212 homes were sold in Lake County; 57% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.