Is Elyria, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Elyria has remained a Seller's Market.
Key Takeaway
Elyria is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elyria, OH
How much do homes in Elyria, OH cost?
Median Sold Price
$166,662
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Elyria have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Elyria was $166,662 in April 2024, up 8.8% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $116K | $122.4K | +5.5% |
| 3 Bedrooms | $155K | $163K | +5.2% |
| 4 Bedrooms | $180K | $225K | +25.0% |
| 5+ Bedrooms | $160.5K | $234.5K | +46.1% |
Summary: Elyria housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 46.1%.
Median Sold Price Compared To Nearby Cities
| Sheffield Township | $120K | $139.2K | +16.0% |
| Carlisle Township | $224.4K | $256.5K | +14.3% |
| Elyria | $153.2K | $166.6K | +8.8% |
| Elyria Township | $153.8K | $166.7K | +8.4% |
Housing Supply in Elyria, OH
How many homes are available in Elyria, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 193 | 192 | -0.5% |
Summary: The Elyria real estate market had 192 homes for sale in April 2024, a 0.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 24 | 23 | -4.2% |
| 3 Bedrooms | 97 | 108 | +11.3% |
| 4 Bedrooms | 56 | 45 | -19.6% |
| 5+ Bedrooms | 16 | 16 | 0.0% |
Summary: The Elyria housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 11.3%, 4 bedroom homes decreased by 19.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 65 | 58 | -10.8% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elyria, you could pay more than the asking price. 43.1% of homes here sold above asking price last month.
Summary: A total of 58 homes were sold or pending in Elyria in April 2024, down by 10.8% month-over-month. Of the 58 sold homes, 40% were sold under asking, 17% were sold at asking, and 43% were sold over asking.
Days on Market for Elyria, OH
How long does it take to sell a home in Elyria, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 40 Days | 37 Days | -8.3% |
Summary: Homes in Elyria had an average of 37 days on market in Apr 2024, down by 8.3% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elyria are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 58 homes were sold in Elyria; 59% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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