Is Oakwood, 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, 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
$350,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Oakwood have sold for 18.6% more than they did a year ago.
Summary: The median home sold price in Oakwood was $350,000 in May 2024, up 18.6% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $103K | $100K | -2.9% |
| 2 Bedrooms | $219.9K | $243K | +10.5% |
| 3 Bedrooms | $280K | $318.2K | +13.7% |
| 4 Bedrooms | $375K | $435K | +16.0% |
| 5+ Bedrooms | $562.5K | $650K | +15.6% |
Summary: Oakwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.9%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 16%, and 5+ bedroom homes increased by 15.6%.
Median Sold Price Compared To Nearby Cities
| Oakwood | $295K | $350K | +18.6% |
| Bedford | $150K | $175K | +16.7% |
| Bedford Heights | $168K | $185K | +10.1% |
| Walton Hills | $275K | $279K | +1.5% |
Housing Supply in Oakwood, OH
How many homes are available in Oakwood, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 68 | 86 | +26.5% |
Summary: The Oakwood real estate market had 86 homes for sale in May 2024, a 26.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 2 | 5 | +150.0% |
| 3 Bedrooms | 31 | 41 | +32.3% |
| 4 Bedrooms | 22 | 24 | +9.1% |
| 5+ Bedrooms | 11 | 14 | +27.3% |
Summary: The Oakwood 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 150%, 3 bedroom homes increased by 32.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 24 | +41.2% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oakwood, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Oakwood in May 2024, up by 41.2% month-over-month. Of the 24 sold homes, 38% were sold under asking, 38% were sold at asking, and 25% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 49 Days | 45 Days | -9.0% |
Summary: Homes in Oakwood had an average of 45 days on market in May 2024, down by 9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Oakwood has remained consistent over time.
Summary: During May 2024, 24 homes were sold in Oakwood; 21% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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