$10,000 Closing Credit*
$1,895,000
8,534 SqFt
5 Beds
•5 Full Baths, 3 Partial
Karen A Eagle, Listing Office: Elite Sotheby's International Realty
Is South Russell, 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 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
$532,450
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$133,975(+33.6%)
Key Takeaway
Homes in South Russell have sold for 33.6% more than they did a year ago.
Summary: The median home sold price in South Russell was $532,450 in October 2024, up 33.6% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $384.5K | $350K | -9.0% |
| 3 Bedrooms | $300K | $407K | +35.7% |
| 4 Bedrooms | $550K | $603.4K | +9.7% |
| 5+ Bedrooms | $755K | $665.7K | -11.8% |
Summary: South Russell housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9%, 3 bedroom homes increased by 35.7%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes decreased by 11.8%.
Median Sold Price Compared To Nearby Cities
| South Russell | $398.4K | $532.4K | +33.6% |
| Novelty | $377.5K | $440K | +16.6% |
| Bainbridge Township | $428.5K | $490K | +14.4% |
| Chagrin Falls | $482.9K | $542K | +12.2% |
| Russell Township | $425K | $476K | +12.0% |
Housing Supply in South Russell, OH
How many homes are available in South Russell, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 9 | -40.0% |
Summary: The South Russell real estate market had 9 homes for sale in October 2024, a 40.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 12 | 4 | -66.7% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The South Russell 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 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in South Russell, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in South Russell in October 2024, down by 16.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 60 Days | +172.5% |
Summary: Homes in South Russell had an average of 60 days on market in Oct 2024, up by 172.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in South Russell are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in South Russell; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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