Is South Akron, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, South Akron has remained a Seller's Market.
Key Takeaway
South Akron is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Akron, OH
How much do homes in South Akron, OH cost?
Median Sold Price
$80,200
$66/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in South Akron have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in South Akron was $80,200 in April 2024, up 6.9% from last year, and the median price per square foot was $66.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $11.5K | $49.7K | +332.6% |
| 2 Bedrooms | $71.4K | $68.1K | -4.7% |
| 3 Bedrooms | $75K | $90K | +20.0% |
| 4 Bedrooms | $67K | $70.5K | +5.2% |
| 5+ Bedrooms | $118K | $123.9K | +5.0% |
Summary: South Akron housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 332.6%, 2 bedroom homes decreased by 4.7%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 5%.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown Akron | $109K | $152K | +39.4% |
| East Akron | $63K | $70.5K | +11.9% |
| South Akron | $75K | $80.2K | +6.9% |
| University of Akron | $100K | $100K | 0.0% |
Housing Supply in South Akron, OH
How many homes are available in South Akron, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 33 | 27 | -18.2% |
Summary: The South Akron real estate market had 27 homes for sale in April 2024, a 18.2% decrease 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 | 8 | 7 | -12.5% |
| 3 Bedrooms | 14 | 12 | -14.3% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The South Akron 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 decreased by 12.5%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 7 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Akron, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in South Akron in April 2024, down by 50.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for South Akron, OH
How long does it take to sell a home in South Akron, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 20 Days | 38 Days | +84.1% |
Summary: Homes in South Akron had an average of 38 days on market in Apr 2024, up by 84.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in South Akron are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in South Akron; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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