Is University Heights, 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, University Heights has remained a Seller's Market.
Key Takeaway
University Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in University Heights, OH
How much do homes in University Heights, OH cost?
Median Sold Price
$260,000
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in University Heights have sold for 13% more than they did a year ago.
Summary: The median home sold price in University Heights was $260,000 in March 2024, up 13% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $131.7K | $185K | +40.4% |
| 3 Bedrooms | $204.7K | $231.5K | +13.1% |
| 4 Bedrooms | $250K | $300K | +20.0% |
| 5+ Bedrooms | $365K | $293.5K | -19.6% |
Summary: University Heights 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 increased by 40.4%, 3 bedroom homes increased by 13.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 19.6%.
Median Sold Price Compared To Nearby Cities
| University Heights | $230K | $260K | +13.0% |
| Shaker Heights | $275.6K | $303.6K | +10.1% |
| Beachwood | $389.5K | $413.2K | +6.1% |
| South Euclid | $160K | $164.5K | +2.8% |
| Cleveland Heights | $195K | $199.9K | +2.6% |
Housing Supply in University Heights, OH
How many homes are available in University Heights, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 41 | 53 | +29.3% |
Summary: The University Heights real estate market had 53 homes for sale in March 2024, a 29.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 23 | 25 | +8.7% |
| 4 Bedrooms | 14 | 23 | +64.3% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The University Heights 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 remained the same, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 64.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 17 | +54.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in University Heights, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in University Heights in March 2024, up by 54.5% month-over-month. Of the 17 sold homes, 53% were sold under asking, 12% were sold at asking, and 35% were sold over asking.
Days on Market for University Heights, OH
How long does it take to sell a home in University Heights, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 41 Days | 46 Days | +12.5% |
Summary: Homes in University Heights had an average of 46 days on market in Mar 2024, up by 12.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in University Heights are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 17 homes were sold in University Heights; 47% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
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