Is 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, Akron has remained a Seller's Market.
Key Takeaway
Akron is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Akron, OH
How much do homes in Akron, OH cost?
Median Sold Price
$130,000
$100/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Akron have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in Akron was $130,000 in April 2024, up 1.5% from last year, and the median price per square foot was $100.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $55K | $73K | +32.7% |
| 2 Bedrooms | $92.8K | $99.9K | +7.6% |
| 3 Bedrooms | $131K | $135K | +3.0% |
| 4 Bedrooms | $160.1K | $164.8K | +2.9% |
| 5+ Bedrooms | $169.3K | $175K | +3.4% |
Summary: Akron housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.7%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Cities
| Coventry Township | $176.5K | $200K | +13.3% |
| Copley Township | $287.3K | $320K | +11.3% |
| Cuyahoga Falls | $190K | $210K | +10.5% |
| Akron | $128K | $130K | +1.5% |
| Fairlawn | $285K | $270K | -5.3% |
Housing Supply in Akron, OH
How many homes are available in Akron, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 843 | 837 | -0.7% |
Summary: The Akron real estate market had 837 homes for sale in April 2024, a 0.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 13 | +8.3% |
| 2 Bedrooms | 148 | 152 | +2.7% |
| 3 Bedrooms | 457 | 437 | -4.4% |
| 4 Bedrooms | 170 | 184 | +8.2% |
| 5+ Bedrooms | 56 | 51 | -8.9% |
Summary: The Akron housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 2.7%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes decreased by 8.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 263 | 257 | -2.3% |
Asking Price vs. Sold Price
108 Homes Were Sold
Under Asking
46 Homes Were Sold
At Asking
103 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Akron, you may be able to get a good deal. 42% of homes here sold below asking price last month.
Summary: A total of 257 homes were sold or pending in Akron in April 2024, down by 2.3% month-over-month. Of the 257 sold homes, 42% were sold under asking, 18% were sold at asking, and 40% were sold over asking.
Days on Market for Akron, OH
How long does it take to sell a home in Akron, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 39 Days | -0.1% |
Summary: Homes in Akron had an average of 39 days on market in Apr 2024, down by 0.1% compared to last year.
Breakdown of Home Sale Times
130 Homes Were Sold
Under 30 Days
97 Homes Were Sold
In 30 - 90 Days
30 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Akron are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 257 homes were sold in Akron; 51% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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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.