$2,374 Closing Credit*
$199,900
2,403 SqFt
4 Beds
•1 Full Bath, 1 Partial
Kara Afrates, Listing Office: Afrates Real Estate
Is Sheffield Lake, 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, Sheffield Lake has remained a Seller's Market.
Key Takeaway
Sheffield Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sheffield Lake, OH
How much do homes in Sheffield Lake, OH cost?
Median Sold Price
$194,750
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$9,750(+5.3%)
Key Takeaway
Homes in Sheffield Lake have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Sheffield Lake was $194,750 in November 2024, up 5.3% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $184.9K | $165K | -10.8% |
| 3 Bedrooms | $182K | $186.5K | +2.5% |
| 4 Bedrooms | $227.5K | $210K | -7.7% |
| 5+ Bedrooms | $265K | $281.2K | +6.1% |
Summary: Sheffield Lake 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 decreased by 10.8%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 6.1%.
Median Sold Price Compared To Nearby Cities
| Avon Lake | $348.4K | $390.6K | +12.1% |
| Sheffield Lake | $185K | $194.7K | +5.3% |
| Sheffield | $345K | $357.5K | +3.6% |
Housing Supply in Sheffield Lake, OH
How many homes are available in Sheffield Lake, OH?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 30 | 21 | -30.0% |
Summary: The Sheffield Lake real estate market had 21 homes for sale in November 2024, a 30.0% 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 | 6 | 4 | -33.3% |
| 3 Bedrooms | 18 | 10 | -44.4% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Sheffield Lake 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 33.3%, 3 bedroom homes decreased by 44.4%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 4 | -69.2% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sheffield Lake, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Sheffield Lake in November 2024, down by 69.2% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Sheffield Lake, OH
How long does it take to sell a home in Sheffield Lake, OH?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 29 Days | +89.4% |
Summary: Homes in Sheffield Lake had an average of 29 days on market in Nov 2024, up by 89.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sheffield Lake are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in Sheffield Lake; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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