Is Residence Park, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Residence Park was a Neutral Market.
Key Takeaway
Residence Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Residence Park, OH
How much do homes in Residence Park, OH cost?
Median Sold Price
$52,000
$54/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Residence Park have sold for 8.8% less than they did a year ago.
Summary: The median home sold price in Residence Park was $52,000 in April 2024, down 8.8% from last year, and the median price per square foot was $54.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $45K | $44.7K | -0.6% |
| 3 Bedrooms | $60.5K | $64.2K | +6.2% |
| 4 Bedrooms | $135K | $145.7K | +8.0% |
| 5+ Bedrooms | $182.9K | $40K | -78.1% |
Summary: Residence Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.6%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 8%, and 5+ bedroom homes decreased by 78.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Fairlane | $80K | $152.2K | +90.3% |
| Westwood | $55K | $54.5K | -0.9% |
| Residence Park | $57K | $52K | -8.8% |
Housing Supply in Residence Park, OH
How many homes are available in Residence Park, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 16 | +33.3% |
Summary: The Residence Park real estate market had 16 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Residence Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Residence Park, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Residence Park in April 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Residence Park, OH
How long does it take to sell a home in Residence Park, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 236 Days | 32 Days | -86.3% |
Summary: Homes in Residence Park had an average of 32 days on market in Apr 2024, down by 86.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Residence Park has remained consistent over time.
Summary: During April 2024, 3 homes were sold in Residence Park; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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