Is South Russell, 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 Russell has remained a Seller's Market.
Key Takeaway
South Russell is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Russell, OH
How much do homes in South Russell, OH cost?
Median Sold Price
$512,450
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in South Russell have sold for 29.7% more than they did a year ago.
Summary: The median home sold price in South Russell was $512,450 in April 2024, up 29.7% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $384.5K | - | N/A |
| 3 Bedrooms | $320K | $313K | -2.2% |
| 4 Bedrooms | $475K | $560K | +17.9% |
| 5+ Bedrooms | $562.5K | $665.7K | +18.4% |
Summary: South Russell 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 did not change, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 18.4%.
Median Sold Price Compared To Nearby Cities
| South Russell | $395K | $512.4K | +29.7% |
| Novelty | $350K | $433K | +23.7% |
| Chagrin Falls | $455K | $538K | +18.2% |
| Russell Township | $402.5K | $434K | +7.8% |
| Bainbridge Township | $425K | $454.9K | +7.0% |
Housing Supply in South Russell, OH
How many homes are available in South Russell, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Summary: The South Russell real estate market had 12 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The South Russell 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 increased by 100%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Russell, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in South Russell in April 2024, up by 25.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for South Russell, OH
How long does it take to sell a home in South Russell, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 61 Days | 27 Days | -55.2% |
Summary: Homes in South Russell had an average of 27 days on market in Apr 2024, down by 55.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in South Russell has remained consistent over time.
Summary: During April 2024, 5 homes were sold in South Russell; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
