$3,859 Closing Credit*
$325,000
2,068 SqFt
3 Beds
•2 Full Baths
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 October 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
$370,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$12,000(+3.4%)
Key Takeaway
Homes in Silver Lake have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Silver Lake was $370,000 in October 2024, up 3.4% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $325K | $239.9K | -26.2% |
| 3 Bedrooms | $325K | $339K | +4.3% |
| 4 Bedrooms | $408K | $424K | +3.9% |
| 5+ Bedrooms | $1.3M | - | N/A |
Summary: Silver 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 26.2%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Munroe Falls | $231.8K | $255K | +10.0% |
| Cuyahoga Falls | $203.2K | $214.2K | +5.4% |
| Silver Lake | $358K | $370K | +3.4% |
| Stow | $253.5K | $261.5K | +3.2% |
Housing Supply in Silver Lake, OH
How many homes are available in Silver Lake, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 16 | +23.1% |
Summary: The Silver Lake real estate market had 16 homes for sale in October 2024, a 23.1% increase 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Silver 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 increased by 25%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Silver Lake, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Silver Lake in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 87 Days | 18 Days | -79.3% |
Summary: Homes in Silver Lake had an average of 18 days on market in Oct 2024, down by 79.3% 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 Silver Lake are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Silver 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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