Is Garfield Heights, 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, Garfield Heights has remained a Seller's Market.
Housing Prices in Garfield Heights, OH
How much do homes in Garfield Heights, OH cost?
Median Sold Price
$130,416
$80/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Garfield Heights was $130,416 in May 2024, up 3.5% from last year, and the median price per square foot was $80.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $94.5K | $93.5K | -1.1% |
3 Bedrooms | $126K | $134K | +6.3% |
4 Bedrooms | $135.5K | $135K | -0.4% |
5+ Bedrooms | $124K | $148.5K | +19.8% |
Summary: Garfield Heights 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 1.1%, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 19.8%.
Median Sold Price Compared To Nearby Cities
Maple Heights | $110K | $122.9K | +11.8% |
Garfield Heights | $126K | $130.4K | +3.5% |
Cleveland | $155K | $159.8K | +3.1% |
Housing Supply in Garfield Heights, OH
How many homes are available in Garfield Heights, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
122 | 115 | -5.7% |
Summary: The Garfield Heights real estate market had 115 homes for sale in May 2024, a 5.7% decrease 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 | 8 | 3 | -62.5% |
3 Bedrooms | 87 | 94 | +8.0% |
4 Bedrooms | 23 | 14 | -39.1% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Garfield Heights 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 decreased by 62.5%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 39.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
44 | 28 | -36.4% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Garfield Heights in May 2024, down by 36.4% month-over-month. Of the 28 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Garfield Heights, OH
How long does it take to sell a home in Garfield Heights, OH?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
43 Days | 38 Days | -13.0% |
Summary: Homes in Garfield Heights had an average of 38 days on market in May 2024, down by 13% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 28 homes were sold in Garfield Heights; 54% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.