Is Eastlake, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Eastlake has remained a Seller's Market.
Key Takeaway
Eastlake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Eastlake, OH
How much do homes in Eastlake, OH cost?
Median Sold Price
$187,500
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Eastlake have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in Eastlake was $187,500 in May 2024, up 9.3% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $63.5K | - | N/A |
| 2 Bedrooms | $134K | $145K | +8.2% |
| 3 Bedrooms | $172.7K | $191.2K | +10.7% |
| 4 Bedrooms | $211K | $238.5K | +13.0% |
| 5+ Bedrooms | $250K | $250K | 0.0% |
Summary: Eastlake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 13%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Eastlake | $171.5K | $187.5K | +9.3% |
| Willowick | $175K | $183.5K | +4.9% |
| Willoughby | $245K | $238K | -2.9% |
Housing Supply in Eastlake, OH
How many homes are available in Eastlake, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 64 | 60 | -6.3% |
Summary: The Eastlake real estate market had 60 homes for sale in May 2024, a 6.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 9 | -25.0% |
| 3 Bedrooms | 42 | 41 | -2.4% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Eastlake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 14 | -33.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Eastlake, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Eastlake in May 2024, down by 33.3% month-over-month. Of the 14 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Eastlake, OH
How long does it take to sell a home in Eastlake, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 51 Days | 40 Days | -21.5% |
Summary: Homes in Eastlake had an average of 40 days on market in May 2024, down by 21.5% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Eastlake are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in Eastlake; 64% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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