Is Painesville 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, Painesville Township has remained a Seller's 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
$198,666
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Painesville Township have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Painesville Township was $198,666 in May 2024, up 6.6% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | $123.7K | +76.7% |
| 2 Bedrooms | $115K | $143.5K | +24.8% |
| 3 Bedrooms | $181.4K | $195K | +7.5% |
| 4 Bedrooms | $285.4K | $307.5K | +7.7% |
| 5+ Bedrooms | $255K | $300K | +17.6% |
Summary: Painesville Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 76.7%, 2 bedroom homes increased by 24.8%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 17.6%.
Median Sold Price Compared To Nearby Cities
| Fairport Harbor | $159.9K | $179.9K | +12.5% |
| Concord Township | $305K | $327.9K | +7.5% |
| Painesville Township | $186.3K | $198.6K | +6.6% |
| Painesville | $188.3K | $196.8K | +4.5% |
Housing Supply in Painesville Township, OH
How many homes are available in Painesville Township, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 115 | 137 | +19.1% |
Summary: The Painesville Township real estate market had 137 homes for sale in May 2024, a 19.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 19 | 18 | -5.3% |
| 3 Bedrooms | 65 | 78 | +20.0% |
| 4 Bedrooms | 20 | 31 | +55.0% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Painesville Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 55%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 33 | 30 | -9.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Painesville Township, you could pay more than the asking price. 43.3% of homes here sold above asking price last month.
Summary: A total of 30 homes were sold or pending in Painesville Township in May 2024, down by 9.1% month-over-month. Of the 30 sold homes, 33% were sold under asking, 23% were sold at asking, and 43% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 33 Days | -4.3% |
Summary: Homes in Painesville Township had an average of 33 days on market in May 2024, down by 4.3% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Painesville Township has remained consistent over time.
Summary: During May 2024, 30 homes were sold in Painesville Township; 47% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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