Is Russell Township, 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, Russell Township has remained a Seller's Market.
Key Takeaway
Russell Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Russell Township, OH
How much do homes in Russell Township, OH cost?
Median Sold Price
$433,000
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Russell Township have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in Russell Township was $433,000 in March 2024, up 8.3% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $577.5K | N/A |
| 2 Bedrooms | $373K | $217.5K | -41.7% |
| 3 Bedrooms | $325K | $365K | +12.3% |
| 4 Bedrooms | $460K | $525K | +14.1% |
| 5+ Bedrooms | $545K | $1.0M | +83.5% |
Summary: Russell Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 41.7%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 14.1%, and 5+ bedroom homes increased by 83.5%.
Median Sold Price Compared To Nearby Cities
| Novelty | $355K | $426.5K | +20.1% |
| South Russell | $398.7K | $475K | +19.1% |
| Chagrin Falls | $457.7K | $539.5K | +17.9% |
| Russell Township | $400K | $433K | +8.3% |
Housing Supply in Russell Township, OH
How many homes are available in Russell Township, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 12 | +50.0% |
Summary: The Russell Township real estate market had 12 homes for sale in March 2024, a 50.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Russell Township 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 100%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Russell Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Russell Township in March 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Russell Township, OH
How long does it take to sell a home in Russell Township, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 30 Days | 15 Days | -48.6% |
Summary: Homes in Russell Township had an average of 15 days on market in Mar 2024, down by 48.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Russell Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Russell Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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