Is Akron, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
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.
Housing Prices in Akron, OH
How much do homes in Akron, OH cost?
Median Sold Price
$130,000
$99/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Akron have sold for 2% more than they did a year ago.
Summary: The median home sold price in Akron was $130,000 in March 2024, up 2% from last year, and the median price per square foot was $99.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $55K | $70K | +27.3% |
| 2 Bedrooms | $88.7K | $100K | +12.6% |
| 3 Bedrooms | $131K | $134.8K | +2.9% |
| 4 Bedrooms | $162.5K | $161.8K | -0.4% |
| 5+ Bedrooms | $180K | $170K | -5.6% |
Summary: Akron housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.3%, 2 bedroom homes increased by 12.6%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes decreased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Coventry Township | $175K | $200K | +14.3% |
| Cuyahoga Falls | $185.1K | $209.9K | +13.4% |
| Copley Township | $289K | $320K | +10.7% |
| Akron | $127.4K | $130K | +2.0% |
| Fairlawn | $285K | $266K | -6.7% |
Housing Supply in Akron, OH
How many homes are available in Akron, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 810 | 836 | +3.2% |
Summary: The Akron real estate market had 836 homes for sale in March 2024, a 3.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 12 | 0.0% |
| 2 Bedrooms | 136 | 139 | +2.2% |
| 3 Bedrooms | 440 | 450 | +2.3% |
| 4 Bedrooms | 165 | 177 | +7.3% |
| 5+ Bedrooms | 57 | 58 | +1.8% |
Summary: The Akron housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 1.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 211 | 242 | +14.7% |
Asking Price vs. Sold Price
121 Homes Were Sold
Under Asking
37 Homes Were Sold
At Asking
81 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Akron, you may be able to get a good deal. 50.6% of homes here sold below asking price last month.
Summary: A total of 242 homes were sold or pending in Akron in March 2024, up by 14.7% month-over-month. Of the 239 sold homes, 51% were sold under asking, 15% were sold at asking, and 34% were sold over asking.
Days on Market for Akron, OH
How long does it take to sell a home in Akron, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 47 Days | 41 Days | -12.8% |
Summary: Homes in Akron had an average of 41 days on market in Mar 2024, down by 12.8% compared to last year.
Breakdown of Home Sale Times
130 Homes Were Sold
Under 30 Days
77 Homes Were Sold
In 30 - 90 Days
35 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Akron are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 242 homes were sold in Akron; 54% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.