Is Southern Orchards, 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, Southern Orchards was a Seller's Market.
Key Takeaway
Southern Orchards is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southern Orchards, OH
How much do homes in Southern Orchards, OH cost?
Median Sold Price
$277,500
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Southern Orchards have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Southern Orchards was $277,500 in April 2024, up 6.7% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $189.9K | $194.9K | +2.6% |
| 3 Bedrooms | $281K | $270K | -3.9% |
| 4 Bedrooms | $311K | $376K | +20.9% |
| 5+ Bedrooms | $156K | $391.7K | +151.1% |
Summary: Southern Orchards 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 increased by 2.6%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes increased by 20.9%, and 5+ bedroom homes increased by 151.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Driving Park | $182K | $216K | +18.7% |
| Southern Orchards | $260K | $277.5K | +6.7% |
| Schumacher Place | $469K | $421K | -10.2% |
Housing Supply in Southern Orchards, OH
How many homes are available in Southern Orchards, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 43 | 48 | +11.6% |
Summary: The Southern Orchards real estate market had 48 homes for sale in April 2024, a 11.6% 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 | 13 | 14 | +7.7% |
| 3 Bedrooms | 13 | 16 | +23.1% |
| 4 Bedrooms | 13 | 13 | 0.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Southern Orchards 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 7.7%, 3 bedroom homes increased by 23.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southern Orchards, 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 Southern Orchards in April 2024, down by 16.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Southern Orchards, OH
How long does it take to sell a home in Southern Orchards, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 54 Days | 94 Days | +75.2% |
Summary: Homes in Southern Orchards had an average of 94 days on market in Apr 2024, up by 75.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southern Orchards are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Southern Orchards; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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.