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.
Housing Prices in Lake Township, OH
How much do homes in Lake Township, OH cost?
Median Sold Price
$226,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake Township was $226,000 in May 2024, up 13% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $132.5K | $165.2K | +24.7% |
3 Bedrooms | $197.5K | $216K | +9.4% |
4 Bedrooms | $270K | $309K | +14.4% |
5+ Bedrooms | $241K | $255K | +5.8% |
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 24.7%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 14.4%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Cities
Millbury | $195K | $250K | +28.2% |
Lake Township | $200K | $226K | +13.0% |
Northwood | $180K | $189.2K | +5.1% |
Allen Township | $162K | $169.9K | +4.9% |
Walbridge | $214.9K | $199.9K | -6.9% |
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 |
---|---|---|
30 | 37 | +23.3% |
Summary: The Lake Township real estate market had 37 homes for sale in May 2024, a 23.3% 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 | 6 | 7 | +16.7% |
3 Bedrooms | 20 | 22 | +10.0% |
4 Bedrooms | 4 | 7 | +75.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Lake Township 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 16.7%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 8 | -27.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Lake Township in May 2024, down by 27.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% 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 |
---|---|---|
35 Days | 53 Days | +51.8% |
Summary: Homes in Lake Township had an average of 53 days on market in May 2024, up by 51.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Lake Township; 25% of homes were sold within 30 days, 63% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.