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City of Akron

  Analysis of Home Sale Prices

Each year, the Akron Area Board of Realtors (AABOR) compiles a report of home sales recorded in its Multiple Listing Service (MLS). These reports summarize transactions by market areas. The Comprehensive Planning Division has examined 2002, 2001, and 2000 City of Akron home sales data for designated MLS Areas (see maps).

The following are some observations gleaned from data covering a three-year period.

For the city as a whole:

  1. sales prices are rising slowly, but properties are taking longer to sell;
  2. the number of homes sold each year was relatively constant at around 2,300;
  3. the average number of days to sell a home rose from 135.8 in 2001 to 146.2 in 2002;
  4. the average of the City’s home sale prices increased from $83,502 to $92,615 over the three-year period, but virtually all of the rise comes from price appreciation in the Portage Trail-Memorial Parkway area, North Akron, and Kenmore north of Kenmore Boulevard; and
  5. total value of single-family homes sold in Akron reached almost $210 million in 2002.

1. Neighborhoods ranked by largest number of homes sold (top five areas):

In 2002, the range was from 153 homes to 282 homes.

 

2002
(MLS Areas
22, 53, 2, 23, 52)

2001
(MLS Areas
22, 53, 2, 38, 23)

2000
(MLS Areas
22, 53, 2, 38,23)

  1. Northwest Akron
  2. Ellet
  3. North Akron
  4. Portage Path-Memorial Parkway area
  5. Goodyear Heights between Brittain Road and Darrow Road
  1. Northwest Akron
  2. Ellet
  3. North Akron
  4. Firestone Park
  5. Portage Path-Memorial Parkway area
  1. Northwest Akron
  2. Ellet
  3. North Akron
  4. Kenmore north of Kenmore Boulevard
  5. Portage Path-Memorial Parkway area

2. Neighborhoods ranked by fewest number of homes sold (lowest five areas):

In 2002, the range was from 26 homes to 86 homes.

 

2002
(MLS Areas 1, 34, 20, 40,3)

2001
(MLS Areas 1, 34, 20, 36, 40)

2000
(MLS Areas 1, 20, 34, 36, 3)

  1. Central City of Akron
  2. Area immediately southwest of the CBD
  3. West Akron between Romig Road, Diagonal Road, Copley Road, and the western corporate limit
  4. Municipal Airport area
  5. Chapel Hill area
  1. Central City
  2. Area immediately southwest of the CBD
  3. West Akron between Romig Road, Diagonal Road, Copley Road, and the western corporate limit
  4. Kenmore south of Kenmore Boulevard
  5. Municipal Airport area
  1. Central City
  2. West Akron between Romig Road, Diagonal Road, Copley Road, and the western corporate limit
  3. Area immediately southwest of the CBD
  4. Kenmore south of Kenmore Boulevard
  5. Chapel Hill area

3. Neighborhoods ranked by highest average sales price (top five areas):

In 2002, the average sales price ranged from $82,442 to $156,977.

 

2002
(MLS Areas
22, 23, 35, 2, 53)

2001
(MLS Areas
22, 23, 53, 21, 38)

2000
(MLS Areas
22, 23, 53, 21, 38)

  1. Northwest Akron
  2. Portage Path-Memorial Parkway area
  3. Kenmore north of Kenmore Boulevard
  4. North Akron
  5. Ellet
  1. Northwest Akron
  2. Portage Path-Memorial Parkway area
  3. Ellet
  4. West Akron south of Exchange Street and north of Copley Road
  5. Firestone Park
  1. Northwest Akron
  2. Portage Path-Memorial Parkway area
  3. Ellet
  4. West Akron south of Exchange Street and north of Copley Road
  5. Firestone Park

4. Neighborhoods ranked by lowest average sales price (lowest five areas):

In these neighborhoods, average sales prices changed very little from 2000 through 2002. In 2002, the average sales price in these neighborhoods ranged from $41,775 to $55,358.

 

2002
(MLS Areas
39, 37, 1, 51, 20)

2001
(MLS Areas
37, 39, 1, 20, 51)

2000
(MLS Areas
39, 37, 1, 20, 34)

  1. Southeast of CBD between East Market, I-77, Archwood, and Massillon Road
  2. South of Exchange between the Ohio Canal, Archwood, and I-76
  3. Center City
  4. Goodyear Heights between Brittain Road and Middlebury
  5. West Akron between Romig Road, Diagonal Road, Copley Road, and the western corporate limit.
  1. South of Exchange between the Ohio Canal, Archwood, and I-76
  2. Southeast of CBD between East Market, I-77, Archwood, and Massillon Rd.
  3. Center City
  4. West Akron between Romig Road, Diagonal Road, Copley Road, and the western corporate limit
  5. Goodyear Heights between Brittain Rd. and Middlebury
  1. Southeast of CBD between East Market, I-77, Archwood, and Massillon Rd.
  2. South of Exchange between the Ohio Canal, Archwood, and I-76
  3. Center City
  4. West Akron between Romig Road, Diagonal Road, Copley Road, and the western corporate limit
  5. Area immediately southwest of the CBD

5. Fastest selling neighborhoods ranked by average days on market (top five areas):

In 2002, the average days on the market for single family homes ranged from 108 to 117.

 

2002
(MLS Areas
36, 38, 51, 20, 39)

2001
(MLS Areas
51, 38, 39, 52, 36)

2000
(MLS Areas
40, 38, 52, 3, 53)

  1. Kenmore south of Kenmore Boulevard
  2. Firestone Park
  3. Goodyear Heights between Brittain Road and Middlebury
  4. West Akron between Romig Road, Diagonal Road, Copley Road and the western corporate limit.
  5. Southwest of CBD between East Market, I-77, Archwood and Massillon Road
  1. Goodyear Heights between Brittain Rd. and Middlebury
  2. Firestone Park
  3. Center City
  4. Southeast of CBD between East Market, I-77, Archwood, and Massillon Rd.
  5. Kenmore south of Kenmore Boulevard
  1. Municipal Airport Area
  2. Firestone Park
  3. Goodyear Heights between Brittain Rd. and Darrow Rd.
  4. Chapel Hill Area
  5. Ellet

6. Slowest selling neighborhoods ranked by average days on market (top five areas):

In 2002, Goodyear Height between Brittain Road and Darrow Road as well as North Akron experienced a major rise in days on market, from the 110-130 range previously to 361 and 269 days on the market, respectively. The remaining three areas in the slowest selling five neighborhoods rose slightly 130 to 150 days on the market.

 

2002
(MLS Areas
52, 2, 3, 34, 40)

2001
(MLS Areas
1, 34, 20, 23, 21)

2000
(MLS Areas
34, 20, 23, 22, 51)

  1. Goodyear Heights between Darrow Road and Brittain Road
  2. North Akron
  3. Chapel Hill area
  4. Area immediately southwest of the CBD
  5. Municipal Airport area
  1. Center City
  2. Area immediately southwest of the CBD
  3. West Akron between Romig Road, Diagonal Road, Copley Road, and the western corporate limit
  4. Portage Path-Merriman area
  5. area between Copley Road, West Exchange, and the western corporate limits
  1. Area immediately southwest of the CBD
  2. West Akron between Romig Road, Diagonal Road, Copley Road, and the western corporate limit
  3. Portage Path-Merriman area
  4. Northwest Akron
  5. Goodyear Heights between Brittain Road and Middlebury
Number of Homes Sold by Area Number of Homes Sold by Area
Sale Price by Area Sale Price by Area

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