Is Akron, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2022
Since last year, Akron has remained a Seller's Market.
Key Takeaway
Akron is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in Akron, OH cost?
Median Sold Price
$119,420
$87/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2022
+$6,711(+6.0%)
Key Takeaway
Homes in Akron have sold for 6% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | May 2022 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | $50.5K | $57K | +12.9% |
| 2 Bedrooms | $76.9K | $87.8K | +14.2% |
| 3 Bedrooms | $119.9K | $124.5K | +3.8% |
| 4 Bedrooms | $134.9K | $137K | +1.6% |
| 5+ Bedrooms | $140K | $136K | -2.9% |
Median Sold Price Compared To Nearby Cities
| Fairlawn | $262K | $288.5K | +10.1% |
| Cuyahoga Falls | $172K | $185K | +7.5% |
| Akron | $112.7K | $119.4K | +6.0% |
| Coventry Township | $175K | $177.7K | +1.6% |
| Copley Township | $280K | $281.2K | 0.5% |
How many homes are available in Akron, OH?
Number of Homes For Sale
| Apr 2023 | May 2023 | % |
|---|---|---|
| 882 | 912 | +3.4% |
Homes For Sale By Bedroom Count
| # BEDS | Apr 2023 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | 11 | 15 | +36.4% |
| 2 Bedrooms | 169 | 195 | +15.4% |
| 3 Bedrooms | 448 | 431 | -3.8% |
| 4 Bedrooms | 179 | 200 | +11.7% |
| 5+ Bedrooms | 75 | 71 | -5.3% |
Number of Homes Sold
| Apr 2023 | May 2023 | % |
|---|---|---|
| 273 | 258 | -5.5% |
Asking Price vs. Sold Price
116 Homes Were Sold
Under Asking
34 Homes Were Sold
At Asking
106 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Akron, you may be able to get a good deal. 45.3% of homes here sold below asking price last month.
How long does it take to sell a home in Akron, OH?
How long does it take to sell a home in Akron, OH?
Average Sale Time
| May 2022 | May 2023 | % |
|---|---|---|
| 25 Days | 37 Days | +47.8% |
Breakdown of Home Sale Times
161 Homes Were Sold
Under 30 Days
68 Homes Were Sold
In 30 - 90 Days
29 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Akron are selling fast, if you're buying plan to act quickly.
