$4,156 Closing Credit*
$350,000
2,700 SqFt
4 Beds
•3 Full Baths, 1 Partial
Claire Jazbec, Listing Office: Keller Williams Greater Cleveland Northeast
Is Lake County, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Lake County has remained a Seller's Market.
Key Takeaway
Lake County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake County, OH
How much do homes in Lake County, OH cost?
Median Sold Price
$225,613
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$18,470(+8.9%)
Key Takeaway
Homes in Lake County have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Lake County was $225,613 in November 2024, up 8.9% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $74.9K | $125K | +66.9% |
| 2 Bedrooms | $149.9K | $159.9K | +6.7% |
| 3 Bedrooms | $200K | $214.9K | +7.5% |
| 4 Bedrooms | $300K | $335K | +11.6% |
| 5+ Bedrooms | $336K | $388.1K | +15.5% |
Summary: Lake County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 66.9%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 15.5%.
Median Sold Price Compared To Nearby Counties
| Ashtabula County | $154.5K | $174.7K | +13.1% |
| Geauga County | $334.4K | $365K | +9.2% |
| Lake County | $207.1K | $225.6K | +8.9% |
| Cuyahoga County | $186.7K | $197.5K | +5.8% |
Housing Supply in Lake County, OH
How many homes are available in Lake County, OH?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 860 | 767 | -10.8% |
Summary: The Lake County real estate market had 767 homes for sale in November 2024, a 10.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 127 | 114 | -10.2% |
| 3 Bedrooms | 494 | 429 | -13.2% |
| 4 Bedrooms | 184 | 169 | -8.2% |
| 5+ Bedrooms | 53 | 52 | -1.9% |
Summary: The Lake County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 10.2%, 3 bedroom homes decreased by 13.2%, 4 bedroom homes decreased by 8.2%, and 5+ bedroom homes decreased by 1.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 254 | 181 | -28.7% |
Asking Price vs. Sold Price
81 Homes Were Sold
Under Asking
37 Homes Were Sold
At Asking
63 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake County, you may be able to get a good deal. 44.8% of homes here sold below asking price last month.
Summary: A total of 181 homes were sold or pending in Lake County in November 2024, down by 28.7% month-over-month. Of the 181 sold homes, 45% were sold under asking, 20% were sold at asking, and 35% were sold over asking.
Days on Market for Lake County, OH
How long does it take to sell a home in Lake County, OH?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 30 Days | -9.8% |
Summary: Homes in Lake County had an average of 30 days on market in Nov 2024, down by 9.8% compared to last year.
Breakdown of Home Sale Times
112 Homes Were Sold
Under 30 Days
60 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake County are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 181 homes were sold in Lake County; 62% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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