Is Russell Township, 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, Russell Township has remained a Seller's Market.
Housing Prices in Russell Township, OH
How much do homes in Russell Township, OH cost?
Median Sold Price
$434,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Russell Township was $434,000 in May 2024, up 4% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $577.5K | N/A |
2 Bedrooms | $373K | $217.5K | -41.7% |
3 Bedrooms | $325K | $380K | +16.9% |
4 Bedrooms | $490K | $500.5K | +2.1% |
5+ Bedrooms | $635K | $937.5K | +47.6% |
Summary: Russell Township 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 41.7%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 47.6%.
Median Sold Price Compared To Nearby Cities
South Russell | $390K | $510K | +30.8% |
Novelty | $352.5K | $426.5K | +21.0% |
Chagrin Falls | $450.6K | $539.6K | +19.8% |
Russell Township | $417.2K | $434K | +4.0% |
Housing Supply in Russell Township, OH
How many homes are available in Russell Township, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 20 | +53.8% |
Summary: The Russell Township real estate market had 20 homes for sale in May 2024, a 53.8% 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 | 1 | 2 | +100.0% |
3 Bedrooms | 6 | 6 | 0.0% |
4 Bedrooms | 5 | 7 | +40.0% |
5+ Bedrooms | 1 | 5 | +400.0% |
Summary: The Russell Township 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 increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 400%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 5 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Russell Township in May 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Russell Township, OH
How long does it take to sell a home in Russell Township, OH?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
103 Days | 37 Days | -63.3% |
Summary: Homes in Russell Township had an average of 37 days on market in May 2024, down by 63.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Russell Township; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.