Vermilion home prices fall in the third quarter of 2020

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The median sale price of a home sold in the third quarter of 2020 in Vermilion fell by $63,000 while total sales decreased by 20%, according to BlockShopper.com.

From July through September of 2020, there were 28 homes sold, with a median sale price of $115,000 - a 35.4% decrease over the $178,000 median sale price for the same period of the previous year. There were 35 homes sold in Vermilion in the third quarter of 2019.

The median sales tax in Vermilion for the most recent year with available data, 2018, was $2,398, approximately 2.1% of the median home sale price for the third quarter of 2020.

The following table compares Vermilion to other Lorain County cities with similar median sales prices in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Wellington2339-41%$150,000$144,0004.2%
Pheasant Run613-53.8%$142,200$105,00035.4%
Sheffield Lake3359-44.1%$135,000$124,0008.9%
Eaton Estates47-42.9%$121,500$89,90035.2%
Elyria191302-36.8%$119,900$99,95020%
Vermilion2835-20%$115,000$178,000-35.4%
Penfield Junction3250%$107,000$48,326121.4%
South Amherst111010%$103,000$120,250-14.3%
Brentwood Lake330%$85,000$142,500-40.4%
Lorain240322-25.5%$83,000$63,90029.9%
Vincent110%$69,500$7,500826.7%

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