Is Garfield Heights, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$130,000
$77/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Garfield Heights was $130,000 in February 2024, up 4% from last year, and the median price per square foot was $77.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $95.5K | $88.5K | -7.3% |
3 Bedrooms | $125K | $133K | +6.4% |
4 Bedrooms | $140K | $132K | -5.7% |
5+ Bedrooms | $140K | $142K | +1.4% |
Summary: Garfield Heights housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.3%, 3 bedroom homes increased by 6.4%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes increased by 1.4%.
Median Sold Price Compared To Nearby Cities
Maple Heights | $112K | $121.6K | +8.6% |
Garfield Heights | $125K | $130K | +4.0% |
Cleveland | $155K | $155.6K | 0.4% |
Housing Supply in Garfield Heights, OH
How many homes are available in Garfield Heights, OH?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
131 | 141 | +7.6% |
Summary: The Garfield Heights real estate market had 141 homes for sale in February 2024, a 7.6% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 12 | 9 | -25.0% |
3 Bedrooms | 84 | 93 | +10.7% |
4 Bedrooms | 32 | 35 | +9.4% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Garfield Heights housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
31 | 34 | +9.7% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in Garfield Heights in February 2024, up by 9.7% month-over-month. Of the 34 sold homes, 62% were sold under asking, 9% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
54 Days | 45 Days | -16.1% |
Summary: Homes in Garfield Heights had an average of 45 days on market in Feb 2024, down by 16.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During February 2024, 34 homes were sold in Garfield Heights; 32% of homes were sold within 30 days, 59% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.