Is Berea, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Berea has remained a Seller's Market.
Housing Prices in Berea, KY
How much do homes in Berea, KY cost?
Median Sold Price
$245,125
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Berea was $245,125 in March 2024, up 3.9% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $105K | - | N/A |
2 Bedrooms | $151.4K | $135K | -10.8% |
3 Bedrooms | $229.9K | $236K | +2.6% |
4 Bedrooms | $284.9K | $294.5K | +3.4% |
5+ Bedrooms | $340K | $345K | +1.5% |
Summary: Berea housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 10.8%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 1.5%.
Median Sold Price Compared To Nearby Cities
Richmond | $272K | $287.2K | +5.6% |
Berea | $236K | $245.1K | +3.9% |
Housing Supply in Berea, KY
How many homes are available in Berea, KY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
67 | 78 | +16.4% |
Summary: The Berea real estate market had 78 homes for sale in March 2024, a 16.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 1 | 3 | +200.0% |
3 Bedrooms | 40 | 44 | +10.0% |
4 Bedrooms | 23 | 27 | +17.4% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Berea housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 18 | +63.6% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Berea in March 2024, up by 63.6% month-over-month. Of the 18 sold homes, 56% were sold under asking, 28% were sold at asking, and 17% were sold over asking.
Days on Market for Berea, KY
How long does it take to sell a home in Berea, KY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
40 Days | 42 Days | +6.5% |
Summary: Homes in Berea had an average of 42 days on market in Mar 2024, up by 6.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 18 homes were sold in Berea; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.