Is Garfield Heights, 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, 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
$129,666
$78/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Garfield Heights have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Garfield Heights was $129,666 in April 2024, up 1.4% from last year, and the median price per square foot was $78.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $93K | $91K | -2.2% |
| 3 Bedrooms | $127.5K | $132.4K | +3.9% |
| 4 Bedrooms | $140K | $134.5K | -3.9% |
| 5+ Bedrooms | $124K | $147K | +18.5% |
Summary: Garfield Heights housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.2%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes increased by 18.5%.
Median Sold Price Compared To Nearby Cities
| Maple Heights | $110K | $122.1K | +11.1% |
| Garfield Heights | $127.9K | $129.6K | +1.4% |
| Cleveland | $155.3K | $157.3K | +1.3% |
Housing Supply in Garfield Heights, OH
How many homes are available in Garfield Heights, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 128 | 123 | -3.9% |
Summary: The Garfield Heights real estate market had 123 homes for sale in April 2024, a 3.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 82 | 87 | +6.1% |
| 4 Bedrooms | 33 | 24 | -27.3% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Garfield Heights 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 remained the same, 3 bedroom homes increased by 6.1%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 33 | 41 | +24.2% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Garfield Heights, you may be able to get a good deal. 43.9% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in Garfield Heights in April 2024, up by 24.2% month-over-month. Of the 41 sold homes, 44% were sold under asking, 24% were sold at asking, and 32% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 66 Days | 50 Days | -23.5% |
Summary: Homes in Garfield Heights had an average of 50 days on market in Apr 2024, down by 23.5% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Garfield Heights are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 41 homes were sold in Garfield Heights; 41% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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