$3,384 Closing Credit*
$285,000
2,068 SqFt
3 Beds
•2 Full Baths, 1 Partial
Derrick T Bailey, Listing Office: RE/MAX Trends Realty
Is Silver 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, Silver Lake has remained a Seller's Market.
Key Takeaway
Silver Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Silver Lake, OH
How much do homes in Silver Lake, OH cost?
Median Sold Price
$375,000
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$40,000(+11.9%)
Key Takeaway
Homes in Silver Lake have sold for 11.9% more than they did a year ago.
Summary: The median home sold price in Silver Lake was $375,000 in November 2024, up 11.9% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $325K | $239.9K | -26.2% |
| 3 Bedrooms | $325K | $339K | +4.3% |
| 4 Bedrooms | $404.9K | $424K | +4.7% |
| 5+ Bedrooms | $1.3M | $425K | -67.9% |
Summary: Silver 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 26.2%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 67.9%.
Median Sold Price Compared To Nearby Cities
| Silver Lake | $335K | $375K | +11.9% |
| Munroe Falls | $237.7K | $255.5K | +7.5% |
| Cuyahoga Falls | $206.2K | $215K | +4.3% |
| Stow | $255K | $265K | +3.9% |
Housing Supply in Silver Lake, OH
How many homes are available in Silver Lake, OH?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 15 | 0.0% |
Summary: The Silver Lake real estate market had 15 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Silver 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 100%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Silver Lake, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Silver Lake in November 2024, up by 25.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for Silver Lake, OH
How long does it take to sell a home in Silver Lake, OH?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 31 Days | 42 Days | +35.5% |
Summary: Homes in Silver Lake had an average of 42 days on market in Nov 2024, up by 35.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Silver Lake are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in Silver Lake; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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