$2,492 Closing Credit*
$209,875
1,610 SqFt
3 Beds
•2 Full Baths, 1 Partial
Darren W Burke, Listing Office: Keller Williams Greater Cleveland Northeast
Is Painesville, 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, Painesville has remained a Seller's Market.
Key Takeaway
Painesville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Painesville, OH
How much do homes in Painesville, OH cost?
Median Sold Price
$210,000
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$17,333(+9.0%)
Key Takeaway
Homes in Painesville have sold for 9% more than they did a year ago.
Summary: The median home sold price in Painesville was $210,000 in November 2024, up 9% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $126K | N/A |
| 2 Bedrooms | $125K | $147K | +17.6% |
| 3 Bedrooms | $195K | $200K | +2.6% |
| 4 Bedrooms | $276.5K | $325K | +17.5% |
| 5+ Bedrooms | $260K | $300.5K | +15.6% |
Summary: Painesville housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 17.5%, and 5+ bedroom homes increased by 15.6%.
Median Sold Price Compared To Nearby Cities
| Concord Township | $305K | $335K | +9.8% |
| Painesville | $192.6K | $210K | +9.0% |
| Painesville Township | $195.6K | $208.8K | +6.7% |
| Fairport Harbor | $175K | $185K | +5.7% |
Housing Supply in Painesville, OH
How many homes are available in Painesville, OH?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 125 | 111 | -11.2% |
Summary: The Painesville real estate market had 111 homes for sale in November 2024, a 11.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 24 | 18 | -25.0% |
| 3 Bedrooms | 77 | 65 | -15.6% |
| 4 Bedrooms | 21 | 22 | +4.8% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The Painesville housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 15.6%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 40 | 32 | -20.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Painesville, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in Painesville in November 2024, down by 20.0% month-over-month. Of the 32 sold homes, 44% were sold under asking, 28% were sold at asking, and 28% were sold over asking.
Days on Market for Painesville, OH
How long does it take to sell a home in Painesville, OH?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 38 Days | 31 Days | -16.0% |
Summary: Homes in Painesville had an average of 31 days on market in Nov 2024, down by 16% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Painesville are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 32 homes were sold in Painesville; 56% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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