Is Wakeman, 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, Wakeman has remained a Seller's Market.
Key Takeaway
Wakeman is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wakeman, OH
How much do homes in Wakeman, OH cost?
Median Sold Price
$286,000
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wakeman have sold for 12.2% more than they did a year ago.
Summary: The median home sold price in Wakeman was $286,000 in May 2024, up 12.2% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $232.5K | $225K | -3.2% |
| 3 Bedrooms | $245K | $280.5K | +14.5% |
| 4 Bedrooms | $233.7K | $330K | +41.2% |
| 5+ Bedrooms | $410K | $367.5K | -10.4% |
Summary: Wakeman 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 decreased by 3.2%, 3 bedroom homes increased by 14.5%, 4 bedroom homes increased by 41.2%, and 5+ bedroom homes decreased by 10.4%.
Median Sold Price Compared To Nearby Cities
| Wakeman | $255K | $286K | +12.2% |
| Wakeman Township | $255K | $286K | +12.2% |
Housing Supply in Wakeman, OH
How many homes are available in Wakeman, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 17 | +30.8% |
Summary: The Wakeman real estate market had 17 homes for sale in May 2024, a 30.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 10 | 12 | +20.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Wakeman housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wakeman, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Wakeman in May 2024, up by 150.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Wakeman, OH
How long does it take to sell a home in Wakeman, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 53 Days | +222.8% |
Summary: Homes in Wakeman had an average of 53 days on market in May 2024, up by 222.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Wakeman are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Wakeman; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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