From July through December of 2020, there were 316 homes sold, with a median sale price of $80,000 - a 23.1% increase over the $65,000 median sale price for the same period of the previous year. There were 605 homes sold in Lorain in the second half of 2019.
The median sales tax in Lorain for the most recent year with available data, 2018, was $1,358, approximately 1.7% of the median home sale price for the second half of 2020.
The following table compares Lorain to other Lorain County cities with similar median sale prices in the second half of 2020:
| City | July - Dec. 2020 Home Sales | July - Dec. 2019 Home Sales | % change (Total Home Sales) | July - Dec. 2020 Median Sales Price | July - Dec. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Eaton Estates | 5 | 15 | -66.7% | $134,000 | $85,500 | 56.7% |
| Sheffield Lake | 38 | 104 | -63.5% | $133,000 | $122,000 | 9% |
| Oberlin | 38 | 75 | -49.3% | $128,420 | $166,000 | -22.6% |
| Vermilion | 42 | 67 | -37.3% | $127,500 | $165,000 | -22.7% |
| Elyria | 250 | 547 | -54.3% | $113,700 | $91,500 | 24.3% |
| Penfield Junction | 3 | 4 | -25% | $107,000 | $92,350 | 15.9% |
| South Amherst | 13 | 19 | -31.6% | $103,000 | $124,000 | -16.9% |
| Brentwood Lake | 3 | 8 | -62.5% | $85,000 | $116,000 | -26.7% |
| Lorain | 316 | 605 | -47.8% | $80,000 | $65,000 | 23.1% |
| Vincent | 1 | 4 | -75% | $69,500 | $33,750 | 105.9% |
| Coonville | 2 | 3 | -33.3% | $50,500 | $59,100 | -14.6% |
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