$1,008 Closing Credit*
$84,900
1,699 SqFt
5 Beds
•1 Full Bath
Andrea Neal, Listing Office: Russell Real Estate Services
Is Lorain County, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Lorain County has remained a Seller's Market.
Key Takeaway
Lorain County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lorain County, OH
How much do homes in Lorain County, OH cost?
Median Sold Price
$230,284
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,873(+7.4%)
Key Takeaway
Homes in Lorain County have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Lorain County was $230,284 in October 2024, up 7.4% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $77K | $88.5K | +14.9% |
| 2 Bedrooms | $175.8K | $184K | +4.6% |
| 3 Bedrooms | $191.6K | $210.2K | +9.7% |
| 4 Bedrooms | $320K | $323.5K | +1.1% |
| 5+ Bedrooms | $300K | $329.9K | +10.0% |
Summary: Lorain County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.9%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Counties
| Erie County | $187.7K | $225K | +19.9% |
| Lorain County | $214.4K | $230.2K | +7.4% |
| Medina County | $303.5K | $320.8K | +5.7% |
| Cuyahoga County | $185.5K | $195.3K | +5.3% |
Housing Supply in Lorain County, OH
How many homes are available in Lorain County, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,055 | 1,064 | +0.9% |
Summary: The Lorain County real estate market had 1,064 homes for sale in October 2024, a 0.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 159 | 147 | -7.5% |
| 3 Bedrooms | 534 | 536 | 0.4% |
| 4 Bedrooms | 286 | 308 | +7.7% |
| 5+ Bedrooms | 75 | 71 | -5.3% |
Summary: The Lorain County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 7.5%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 5.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 291 | 277 | -4.8% |
Asking Price vs. Sold Price
123 Homes Were Sold
Under Asking
54 Homes Were Sold
At Asking
100 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lorain County, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 277 homes were sold or pending in Lorain County in October 2024, down by 4.8% month-over-month. Of the 277 sold homes, 44% were sold under asking, 19% were sold at asking, and 36% were sold over asking.
Days on Market for Lorain County, OH
How long does it take to sell a home in Lorain County, OH?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 33 Days | +10.4% |
Summary: Homes in Lorain County had an average of 33 days on market in Oct 2024, up by 10.4% compared to last year.
Breakdown of Home Sale Times
156 Homes Were Sold
Under 30 Days
104 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lorain County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 277 homes were sold in Lorain County; 56% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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