$2,493 Closing Credit*
$209,900
1,756 SqFt
4 Beds
•2 Full Baths
Sylvia Incorvaia, Listing Office: EXP Realty, LLC.
Is Vermilion, 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, Vermilion has remained a Seller's Market.
Key Takeaway
Vermilion is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Vermilion, OH
How much do homes in Vermilion, OH cost?
Median Sold Price
$236,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$36,000(+18.0%)
Key Takeaway
Homes in Vermilion have sold for 18% more than they did a year ago.
Summary: The median home sold price in Vermilion was $236,000 in October 2024, up 18% 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 | $89K | $110K | +23.6% |
| 2 Bedrooms | $174K | $205K | +17.8% |
| 3 Bedrooms | $186.5K | $226.2K | +21.3% |
| 4 Bedrooms | $284.2K | $310K | +9.1% |
| 5+ Bedrooms | $575K | $342.4K | -40.4% |
Summary: Vermilion housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.6%, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 21.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 40.4%.
Median Sold Price Compared To Nearby Cities
| Vermilion | $200K | $240K | +20.0% |
| Vermilion | $200K | $236K | +18.0% |
| Vermilion Township | $200K | $236K | +18.0% |
| Lorain | $134.9K | $145K | +7.4% |
| Brownhelm Township | $228K | $227.5K | -0.2% |
Housing Supply in Vermilion, OH
How many homes are available in Vermilion, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 56 | 57 | +1.8% |
Summary: The Vermilion real estate market had 57 homes for sale in October 2024, a 1.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 31 | 32 | +3.2% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Vermilion 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 decreased by 12.5%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 14 | -26.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Vermilion, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Vermilion in October 2024, down by 26.3% month-over-month. Of the 14 sold homes, 36% were sold under asking, 21% were sold at asking, and 43% were sold over asking.
Days on Market for Vermilion, OH
How long does it take to sell a home in Vermilion, OH?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 55 Days | 21 Days | -61.4% |
Summary: Homes in Vermilion had an average of 21 days on market in Oct 2024, down by 61.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Vermilion are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in Vermilion; 86% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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