Silver Lake Housing Market Report February 2025•Summit County, Ohio

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Housing Prices in Silver Lake, OH

How much do homes in Silver Lake, OH cost?

Housing Market Conditions

Is Silver Lake, OH a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Silver Lake is a Seller's Market

Difference Since January 2025

Last month, Silver Lake has remained a Seller's Market.

Insight

Silver Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$394,500$156/SqFt
+$58,100
+17.3%

Based on all homes sold in February 2025

Insight

Homes in Silver Lake have sold for 17.3% more than they did a month ago.

Summary: The median home sold price in Silver Lake was $394,500 in February 2025, up 17.3% from last month, and the median price per square foot was $156.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2025Feb 2025Change MoM
1--
N/A
2--
N/A
3-$299K
N/A
4$308.2K$490K
+59.0%
5$430K-
N/A

Summary: Silver Lake housing price by bedroom type for February 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes did not change. The home price for 4 bedroom homes increased by +59.0%. The home price for 5 bedroom homes did not change.

Housing supply in Silver Lake, OH

How many homes are available in Silver Lake, OH?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
6Last MonthFeb 2025
82 months agoJan 2025
-25.0 %
Change MoMJan – Feb

Summary: The Silver Lake real estate market had 6 homes for sale in Feb 2025, a 25.0 % decrease compared to Jan 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
2Last MonthFeb 2025
32 months agoJan 2025
-33.3 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
200
0.0%
442
-50.0%
100
0.0%
323
+50.0%
521
-50.0%

Summary: Silver Lake housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 2 bedroom homes remained the same. The inventory for 4 bedroom homes decreased by -50.0%. The inventory for 1 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +50.0%. The inventory for 5 bedroom homes decreased by -50.0%.

Asking Price vs. Sold Price

How much do homes in Silver Lake, OH cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price1 Home

Under Asking Price1 Home

Insight

If you're buying a home in Silver Lake, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Silver Lake in February 2025, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and and 0% were sold over asking.

Days on Market for Silver Lake, OH

How long does it take to sell a home in Silver Lake, OH?

Breakdown of Home Sale Times

Under 30 Days2 Homes

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

Many homes in Silver Lake are selling fast, if you're buying plan to act quickly.

Summary: During February 2025, 2 homes were sold in Silver Lake; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
22 DaysLast MonthFeb 2025
45 Days1 month agoJan 2025
-50.7 %
Change MoMJan – Feb

Summary: Homes in Silver Lake had an average listing age of 22 days in Feb 2025, down by 50.7% compared to the previous month.

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Newest Listings in Silver Lake, OH

What homes are available in Silver Lake, OH?

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MLS Disclaimers and Copyright

Based on information from MLS Now, for the period 01/01/2025 - 03/01/2025

IDXCopyright 2025 MLS Now. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Buyer to verify all information. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/4/2025, 5:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.