Is Morrow, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Morrow has remained a Seller's Market.
Key Takeaway
Morrow is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morrow, OH
How much do homes in Morrow, OH cost?
Median Sold Price
$372,500
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Morrow have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Morrow was $372,500 in May 2024, up 2.5% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $459.3K | $336.5K | -26.7% |
| 3 Bedrooms | $322.5K | $316K | -2.0% |
| 4 Bedrooms | $372K | $370K | -0.5% |
| 5+ Bedrooms | $424.4K | $475K | +11.9% |
Summary: Morrow housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 26.7%, 3 bedroom homes decreased by 2%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes increased by 11.9%.
Median Sold Price Compared To Nearby Cities
| Salem Township | $156K | $172.8K | +10.7% |
| Morrow | $363.5K | $372.5K | +2.5% |
Housing Supply in Morrow, OH
How many homes are available in Morrow, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 25 | +56.3% |
Summary: The Morrow real estate market had 25 homes for sale in May 2024, a 56.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 11 | +57.1% |
| 4 Bedrooms | 6 | 9 | +50.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Morrow housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 57.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morrow, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Morrow in May 2024, up by 50.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Morrow, OH
How long does it take to sell a home in Morrow, OH?
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Morrow are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Morrow; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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