In May 2020, there were 81 homes sold, with a median sale price of $55,500 - a 19.3% decrease over the $68,750 median sale price for the same period of the previous year. There were 104 homes sold in Lorain in May 2019.
The median sales tax in Lorain for the most recent year with available data, 2018, was $1,358, approximately 2.4% of the median home sale price for May 2020.
The following table compares Lorain to other Lorain County cities with similar median sales prices in May 2020:
| City | May 2020 Home Sales | May 2019 Home Sales | % change (Total Home Sales) | May 2020 Median Sales Price | May 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| South Amherst | 7 | 2 | 250% | $159,900 | $76,245 | 109.7% |
| Sheffield Lake | 12 | 11 | 9.1% | $144,750 | $122,000 | 18.6% |
| Wellington | 10 | 9 | 11.1% | $130,500 | $170,000 | -23.2% |
| Vermilion | 6 | 18 | -66.7% | $127,700 | $135,000 | -5.4% |
| Laporte | 1 | 1 | 0% | $124,900 | $45,000 | 177.6% |
| Eaton Estates | 2 | 2 | 0% | $107,500 | $96,250 | 11.7% |
| Elyria | 73 | 121 | -39.7% | $98,000 | $100,000 | -2% |
| Coonville | 5 | 0 | - | $85,000 | $0 | - |
| Vincent | 1 | 3 | -66.7% | $80,000 | $28,000 | 185.7% |
| Lorain | 81 | 104 | -22.1% | $55,500 | $68,750 | -19.3% |
| Penfield Junction | 1 | 0 | - | $35,500 | $0 | - |
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