Is South Russell, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, South Russell was a Buyer's Market.
Housing Prices in South Russell, OH
How much do homes in South Russell, OH cost?
Median Sold Price
$510,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Russell was $510,000 in May 2024, up 30.8% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $384.5K | $350K | -9.0% |
3 Bedrooms | $320K | $326.1K | +1.9% |
4 Bedrooms | $465K | $587.5K | +26.3% |
5+ Bedrooms | $575K | $635K | +10.4% |
Summary: South Russell housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 26.3%, and 5+ bedroom homes increased by 10.4%.
Median Sold Price Compared To Nearby Cities
South Russell | $390K | $510K | +30.8% |
Novelty | $352.5K | $426.5K | +21.0% |
Chagrin Falls | $450.6K | $539.6K | +19.8% |
Bainbridge Township | $420K | $469K | +11.7% |
Russell Township | $417.2K | $434K | +4.0% |
Housing Supply in South Russell, OH
How many homes are available in South Russell, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 10 | -16.7% |
Summary: The South Russell real estate market had 10 homes for sale in May 2024, a 16.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 5 | 4 | -20.0% |
4 Bedrooms | 5 | 4 | -20.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The South Russell housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 4 | -20.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in South Russell in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.
Days on Market for South Russell, OH
How long does it take to sell a home in South Russell, OH?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 9 Days | -52.6% |
Summary: Homes in South Russell had an average of 9 days on market in May 2024, down by 52.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in South Russell; 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.