Is Garfield Heights, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Garfield Heights is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

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

+$5,000(+4.0%)

Key Takeaway

Homes in Garfield Heights have sold for 4% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $95.5K$88.5K
-7.3%
3 $125K$133K
+6.4%
4 $140K$132K
-5.7%
5+ $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
+8.6%
Garfield Heights
+4.0%
Cleveland
0.4%

Housing Supply in Garfield Heights, OH

How many homes are available in Garfield Heights, OH?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
131141+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

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 129
-25.0%
3 8493
+10.7%
4 3235
+9.4%
5+ 34
+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 2024Feb 2024CHANGE
3134+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Garfield Heights, you may be able to get a good deal. 61.8% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
54 Days45 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

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Garfield Heights has remained consistent over time.

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.

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

Report Updated 27 Days Ago

Newest Listings in Garfield Heights, OH

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