$1,781 Closing Credit*
$150,000
3 Beds
•2 Full Baths
Armando Galvez, Listing Office: RE/MAX Above & Beyond
Is Lorain, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Lorain has remained a Seller's Market.
Key Takeaway
Lorain is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lorain, OH
How much do homes in Lorain, OH cost?
Median Sold Price
$147,666
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$9,500(+6.9%)
Key Takeaway
Homes in Lorain have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Lorain was $147,666 in December 2024, up 6.9% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $74K | $77.5K | +4.7% |
| 2 Bedrooms | $114.9K | $125.5K | +9.2% |
| 3 Bedrooms | $140.5K | $150K | +6.7% |
| 4 Bedrooms | $150K | $153K | +2.0% |
| 5+ Bedrooms | $134K | $160K | +19.4% |
Summary: Lorain housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.7%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 19.4%.
Median Sold Price Compared To Nearby Cities
| Lorain | $138.1K | $147.6K | +6.9% |
| Amherst Township | $256K | $263K | +2.7% |
| Amherst | $262.5K | $265K | +1.0% |
| Sheffield | $360K | $350K | -2.8% |
Housing Supply in Lorain, OH
How many homes are available in Lorain, OH?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 277 | 235 | -15.2% |
Summary: The Lorain real estate market had 235 homes for sale in December 2024, a 15.2% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 47 | 43 | -8.5% |
| 3 Bedrooms | 151 | 127 | -15.9% |
| 4 Bedrooms | 63 | 51 | -19.0% |
| 5+ Bedrooms | 15 | 13 | -13.3% |
Summary: The Lorain housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 8.5%, 3 bedroom homes decreased by 15.9%, 4 bedroom homes decreased by 19%, and 5+ bedroom homes decreased by 13.3%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 77 | 62 | -19.5% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lorain, you may be able to get a good deal. 43.5% of homes here sold below asking price last month.
Summary: A total of 62 homes were sold or pending in Lorain in December 2024, down by 19.5% month-over-month. Of the 62 sold homes, 44% were sold under asking, 18% were sold at asking, and 39% were sold over asking.
Days on Market for Lorain, OH
How long does it take to sell a home in Lorain, OH?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 38 Days | 42 Days | +9.0% |
Summary: Homes in Lorain had an average of 42 days on market in Dec 2024, up by 9% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lorain are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 62 homes were sold in Lorain; 48% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Copyright 2025 MLS Now. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Buyer to verify all information. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged.
Information Deemed Reliable, but Not Guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Firelands MLS, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Copyright 2025 Firelands Multiple Listing Service. All rights reserved.
The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.