Is University Heights, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, University Heights was a Buyer'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
$265,000
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in University Heights have sold for 15.2% more than they did a year ago.
Summary: The median home sold price in University Heights was $265,000 in April 2024, up 15.2% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $131.7K | $185K | +40.4% |
| 3 Bedrooms | $206.5K | $233.5K | +13.1% |
| 4 Bedrooms | $250K | $300K | +20.0% |
| 5+ Bedrooms | $365K | $293.5K | -19.6% |
Summary: University Heights housing prices by bedroom type for April 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 | $265K | +15.2% |
| Shaker Heights | $278.3K | $305K | +9.6% |
| Beachwood | $385.5K | $410K | +6.4% |
| South Euclid | $162.7K | $164.5K | +1.1% |
| Cleveland Heights | $197.9K | $199.9K | +1.0% |
Housing Supply in University Heights, OH
How many homes are available in University Heights, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 54 | 56 | +3.7% |
Summary: The University Heights real estate market had 56 homes for sale in April 2024, a 3.7% increase 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 26 | 18 | -30.8% |
| 4 Bedrooms | 23 | 32 | +39.1% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The University 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 decreased by 30.8%, 4 bedroom homes increased by 39.1%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 16 | -5.9% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in University Heights, you could pay more than the asking price. 56.3% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in University Heights in April 2024, down by 5.9% month-over-month. Of the 16 sold homes, 31% were sold under asking, 13% were sold at asking, and 56% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 49 Days | 19 Days | -61.4% |
Summary: Homes in University Heights had an average of 19 days on market in Apr 2024, down by 61.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 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 April 2024, 16 homes were sold in University Heights; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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