Is Berea, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$228,000
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Berea was $228,000 in April 2024, up 16.3% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $77.5K | $79.9K | +3.2% |
2 Bedrooms | $140.1K | $164.6K | +17.4% |
3 Bedrooms | $199.4K | $225K | +12.8% |
4 Bedrooms | $223.2K | $272.4K | +22.0% |
5+ Bedrooms | $273.2K | $275K | +0.6% |
Summary: Berea housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.2%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 22%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Cities
Berea | $196K | $228K | +16.3% |
Brook Park | $185K | $209.9K | +13.5% |
Brookpark | $185K | $209.9K | +13.5% |
Middleburg Heights | $245K | $250K | +2.0% |
Olmsted Falls | $238K | $241K | +1.3% |
Housing Supply in Berea, OH
How many homes are available in Berea, OH?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
40 | 41 | +2.5% |
Summary: The Berea real estate market had 41 homes for sale in April 2024, a 2.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 6 | 5 | -16.7% |
3 Bedrooms | 20 | 22 | +10.0% |
4 Bedrooms | 10 | 11 | +10.0% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Berea housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 15 | +15.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Berea in April 2024, up by 15.4% month-over-month. Of the 15 sold homes, 40% were sold under asking, 13% were sold at asking, and 47% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
21 Days | 42 Days | +101.0% |
Summary: Homes in Berea had an average of 42 days on market in Apr 2024, up by 101% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 15 homes were sold in Berea; 53% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.