Is Berea, OH 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, OH
How much do homes in Berea, OH cost?
Median Sold Price
$225,000
$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 $225,000 in March 2024, up 15.3% 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 | $70K | $84.9K | +21.3% |
2 Bedrooms | $140.3K | $160K | +14.0% |
3 Bedrooms | $195.5K | $224.9K | +15.0% |
4 Bedrooms | $231.6K | $257.5K | +11.2% |
5+ Bedrooms | $245K | $275K | +12.2% |
Summary: Berea housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.3%, 2 bedroom homes increased by 14%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 12.2%.
Median Sold Price Compared To Nearby Cities
Berea | $195.1K | $225K | +15.3% |
Brook Park | $185K | $209.9K | +13.5% |
Brookpark | $185K | $209.9K | +13.5% |
Olmsted Falls | $237K | $240.5K | +1.5% |
Middleburg Heights | $247.5K | $250K | +1.0% |
Housing Supply in Berea, OH
How many homes are available in Berea, OH?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
34 | 38 | +11.8% |
Summary: The Berea real estate market had 38 homes for sale in March 2024, a 11.8% 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 | 2 | 4 | +100.0% |
3 Bedrooms | 20 | 18 | -10.0% |
4 Bedrooms | 7 | 11 | +57.1% |
5+ Bedrooms | 4 | 4 | 0.0% |
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 100%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 12 | +9.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Berea in March 2024, up by 9.1% month-over-month. Of the 12 sold homes, 42% were sold under asking, 17% were sold at asking, and 42% were sold over asking.
Days on Market for Berea, OH
How long does it take to sell a home in Berea, OH?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
20 Days | 34 Days | +64.6% |
Summary: Homes in Berea had an average of 34 days on market in Mar 2024, up by 64.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 12 homes were sold in Berea; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.