$889 Closing Credit*
$74,900
3 Beds
•1 Full Bath
Katrina Spencer, Listing Office: Keller Williams Greater Cleveland Northeast
Is South Akron, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$82,500
$67/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$3,750(+4.8%)
Key Takeaway
Homes in South Akron have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in South Akron was $82,500 in October 2024, up 4.8% from last year, and the median price per square foot was $67.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $30K | $43.5K | +45.2% |
| 2 Bedrooms | $76.5K | $65K | -15.0% |
| 3 Bedrooms | $80K | $90K | +12.5% |
| 4 Bedrooms | $70.2K | $93K | +32.4% |
| 5+ Bedrooms | $110.7K | $120K | +8.4% |
Summary: South Akron housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.2%, 2 bedroom homes decreased by 15%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 32.4%, and 5+ bedroom homes increased by 8.4%.
Median Sold Price Compared To Nearby Neighborhoods
| East Akron | $65K | $75.5K | +16.2% |
| South Akron | $78.7K | $82.5K | +4.8% |
| University of Akron | $106K | $100K | -5.7% |
Housing Supply in South Akron, OH
How many homes are available in South Akron, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 38 | 46 | +21.1% |
Summary: The South Akron real estate market had 46 homes for sale in October 2024, a 21.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 13 | +44.4% |
| 3 Bedrooms | 18 | 19 | +5.6% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The South Akron housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 44.4%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 11 | +120.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was 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. 72.7% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in South Akron in October 2024, up by 120.0% month-over-month. Of the 11 sold homes, 73% were sold under asking, 9% were sold at asking, and 18% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 36 Days | 46 Days | +25.1% |
Summary: Homes in South Akron had an average of 46 days on market in Oct 2024, up by 25.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in South Akron has remained consistent over time.
Summary: During October 2024, 11 homes were sold in South Akron; 27% of homes were sold within 30 days, 64% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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