$1,959 Closing Credit*
$165,000
840 SqFt
2 Beds
•1 Full Bath
Steven Lawson, Listing Office: Russell Real Estate Services
Is Sheffield Lake, 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, 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
$194,500
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$425(+0.2%)
Key Takeaway
The sold price of homes in Sheffield Lake has remained the same since last year.
Summary: The median home sold price in Sheffield Lake was $194,500 in October 2024, up 0.2% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $184.9K | $165K | -10.8% |
| 3 Bedrooms | $185K | $185K | 0.0% |
| 4 Bedrooms | $235K | $210K | -10.6% |
| 5+ Bedrooms | $265K | $281.2K | +6.1% |
Summary: Sheffield Lake housing prices by bedroom type for October 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 did not change, 4 bedroom homes decreased by 10.6%, and 5+ bedroom homes increased by 6.1%.
Median Sold Price Compared To Nearby Cities
| Avon Lake | $350K | $390K | +11.4% |
| Sheffield | $351K | $357.5K | +1.9% |
| Sheffield Lake | $194K | $194.5K | 0.2% |
Housing Supply in Sheffield Lake, OH
How many homes are available in Sheffield Lake, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 30 | -6.3% |
Summary: The Sheffield Lake real estate market had 30 homes for sale in October 2024, a 6.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 22 | 18 | -18.2% |
| 4 Bedrooms | 2 | 5 | +150.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Sheffield Lake housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 18.2%, 4 bedroom homes increased by 150%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sheffield Lake, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Sheffield Lake in October 2024, up by 8.3% month-over-month. Of the 13 sold homes, 46% were sold under asking, 23% were sold at asking, and 31% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 27 Days | -40.7% |
Summary: Homes in Sheffield Lake had an average of 27 days on market in Oct 2024, down by 40.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
6 Homes Were 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 October 2024, 13 homes were sold in Sheffield Lake; 54% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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