Is Oakwood, 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, Oakwood has remained a Seller's Market.
Key Takeaway
Oakwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oakwood, OH
How much do homes in Oakwood, OH cost?
Median Sold Price
$342,500
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Oakwood have sold for 32.2% more than they did a year ago.
Summary: The median home sold price in Oakwood was $342,500 in April 2024, up 32.2% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $103K | $89.9K | -12.7% |
| 2 Bedrooms | $141.5K | $226K | +59.7% |
| 3 Bedrooms | $245.9K | $305.2K | +24.1% |
| 4 Bedrooms | $375K | $418K | +11.5% |
| 5+ Bedrooms | $560K | $672.5K | +20.1% |
Summary: Oakwood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.7%, 2 bedroom homes increased by 59.7%, 3 bedroom homes increased by 24.1%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 20.1%.
Median Sold Price Compared To Nearby Cities
| Oakwood | $259K | $342.5K | +32.2% |
| Bedford | $150K | $175K | +16.7% |
| Bedford Heights | $170K | $179.9K | +5.9% |
| Walton Hills | $267.5K | $278K | +3.9% |
Housing Supply in Oakwood, OH
How many homes are available in Oakwood, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 65 | +25.0% |
Summary: The Oakwood real estate market had 65 homes for sale in April 2024, a 25.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 4 | 1 | -75.0% |
| 3 Bedrooms | 18 | 30 | +66.7% |
| 4 Bedrooms | 21 | 21 | 0.0% |
| 5+ Bedrooms | 8 | 11 | +37.5% |
Summary: The Oakwood housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 75%, 3 bedroom homes increased by 66.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 17 | +41.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oakwood, you could pay more than the asking price. 41.2% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Oakwood in April 2024, up by 41.7% month-over-month. Of the 17 sold homes, 24% were sold under asking, 35% were sold at asking, and 41% were sold over asking.
Days on Market for Oakwood, OH
How long does it take to sell a home in Oakwood, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 66 Days | 69 Days | +5.0% |
Summary: Homes in Oakwood had an average of 69 days on market in Apr 2024, up by 5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Oakwood has remained consistent over time.
Summary: During April 2024, 17 homes were sold in Oakwood; 12% of homes were sold within 30 days, 71% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
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