Is Painesville Township, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Painesville Township was a Neutral Market.
Key Takeaway
Painesville Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Painesville Township, OH
How much do homes in Painesville Township, OH cost?
Median Sold Price
$198,500
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Painesville Township have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Painesville Township was $198,500 in April 2024, up 7.2% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | $123.7K | +76.7% |
| 2 Bedrooms | $116.9K | $135K | +15.5% |
| 3 Bedrooms | $175K | $195K | +11.4% |
| 4 Bedrooms | $296.9K | $302.9K | +2.0% |
| 5+ Bedrooms | $240K | $300.5K | +25.2% |
Summary: Painesville Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 76.7%, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 25.2%.
Median Sold Price Compared To Nearby Cities
| Painesville Township | $185.2K | $198.5K | +7.2% |
| Concord Township | $305.5K | $321.6K | +5.3% |
| Painesville | $186.6K | $196K | +5.0% |
Housing Supply in Painesville Township, OH
How many homes are available in Painesville Township, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 117 | 113 | -3.4% |
Summary: The Painesville Township real estate market had 113 homes for sale in April 2024, a 3.4% decrease 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 | 16 | 20 | +25.0% |
| 3 Bedrooms | 69 | 65 | -5.8% |
| 4 Bedrooms | 26 | 18 | -30.8% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The Painesville Township 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 25%, 3 bedroom homes decreased by 5.8%, 4 bedroom homes decreased by 30.8%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 37 | 32 | -13.5% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Painesville Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in Painesville Township in April 2024, down by 13.5% month-over-month. Of the 32 sold homes, 50% were sold under asking, 16% were sold at asking, and 34% were sold over asking.
Days on Market for Painesville Township, OH
How long does it take to sell a home in Painesville Township, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 30 Days | 47 Days | +55.8% |
Summary: Homes in Painesville Township had an average of 47 days on market in Apr 2024, up by 55.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Painesville Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 32 homes were sold in Painesville Township; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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