Is Berea, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Berea is a seller's market

Buyer's
Market

Difference Since February 2022

Since last year, Berea has remained a Seller's Market.

Key Takeaway

Berea is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Berea, OH cost?

Median Sold Price

$195,000

$125/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2022

+$7,000(+3.7%)

Key Takeaway

Homes in Berea have sold for 3.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSFeb 2022Feb 2023%
1 $55.2K$70K
+26.7%
2 $95K$140K
+47.4%
3 $182K$195.7K
+7.5%
4 $236K$228.2K
-3.3%
5+ $220K$260.5K
+18.4%

Median Sold Price Compared To Nearby Cities

Middleburg Heights
+15.6%
Olmsted Falls
+14.4%
Brookpark
+8.2%
Brook Park
+7.6%
Berea
+3.7%

How many homes are available in Berea, OH?

Number of Homes For Sale

Jan 2023Feb 2023%
3540+14.3%

Homes For Sale By Bedroom Count

# BEDSJan 2023Feb 2023%
1 00
0.0%
2 48
+100.0%
3 1920
+5.3%
4 98
-11.1%
5+ 34
+33.3%

Number of Homes Sold

Jan 2023Feb 2023%
814+75.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Berea, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Average Sale Time

Feb 2022Feb 2023%
35 Days46 Days+29.9%

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Berea are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Berea, OH

Homes for sale in Berea, OH have reached 40. The number of homes for sale in Berea, OH increased by 14.3% between January 2023 and February 2023. In February 2023 median list price was $195,000 and the average listing age was 46 days. Listing prices have changed in this real estate market between January 2023 and February 2023: the cost of 1 bedroom properties went up by 26.7%, 2 bedrooms properties became 47.4% more expensive, prices of 3 bedrooms properties went up by 7.5%, 4 bedrooms properties became 3.3% more cheaper, 5 bedrooms properties became 18.4% more expensive. Housing inventory have changed in this real estate market: 1 bedroom homes inventory did not change, 2 bedrooms homes inventory increased by 100%, 3 bedrooms homes became 5.3% more available, number of 4 bedrooms homes decreased by 11.1%, number of 5 bedrooms homes increased by 33.3%. While more than 6 listings in Berea, OH in February 2023 were sold above asking price, there were more than 3 listings sold at asking price, and more than 5 were sold below.

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