Is Lake Township, 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, Lake Township has remained a Seller's Market.
Key Takeaway
Lake Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Township, OH
How much do homes in Lake Township, OH cost?
Median Sold Price
$205,000
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lake Township have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Lake Township was $205,000 in May 2024, up 7.6% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $170K | N/A |
| 2 Bedrooms | $172.2K | $189.5K | +10.0% |
| 3 Bedrooms | $184.9K | $196K | +6.0% |
| 4 Bedrooms | $224.2K | $259.9K | +15.9% |
| 5+ Bedrooms | $475K | $260.4K | -45.2% |
Summary: Lake Township 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 10%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 15.9%, and 5+ bedroom homes decreased by 45.2%.
Median Sold Price Compared To Nearby Cities
| Harrison Township | $272.5K | $315K | +15.6% |
| Lake Township | $190.5K | $205K | +7.6% |
| Bellefontaine | $205.5K | $219K | +6.6% |
| Jefferson Township | $205.4K | $209K | +1.7% |
| McArthur Township | $296K | $227.5K | -23.2% |
Housing Supply in Lake Township, OH
How many homes are available in Lake Township, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 43 | +13.2% |
Summary: The Lake Township real estate market had 43 homes for sale in May 2024, a 13.2% 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 | 7 | 5 | -28.6% |
| 3 Bedrooms | 21 | 23 | +9.5% |
| 4 Bedrooms | 10 | 14 | +40.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lake Township 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 decreased by 28.6%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 13 | +62.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Township, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Lake Township in May 2024, up by 62.5% month-over-month. Of the 13 sold homes, 46% were sold under asking, 15% were sold at asking, and 38% were sold over asking.
Days on Market for Lake Township, OH
How long does it take to sell a home in Lake Township, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 11 Days | -10.7% |
Summary: Homes in Lake Township had an average of 11 days on market in May 2024, down by 10.7% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Lake Township; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. 
This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are marked with the BR logo and detailed information about them includes the name of the listing brokers. Information Deemed Reliable But Not Guaranteed. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright © 2024 DABR MLS. All Rights Reserved