Is Berea, KY 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, KY
How much do homes in Berea, KY cost?
Median Sold Price
$245,333
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Berea was $245,333 in April 2024, up 5% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $117.4K | - | N/A |
2 Bedrooms | $151.4K | $125K | -17.4% |
3 Bedrooms | $229.9K | $237K | +3.1% |
4 Bedrooms | $271.2K | $299K | +10.2% |
5+ Bedrooms | $340K | $345K | +1.5% |
Summary: Berea 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 17.4%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 1.5%.
Median Sold Price Compared To Nearby Cities
Richmond | $270.7K | $289.9K | +7.1% |
Berea | $233.6K | $245.3K | +5.0% |
Housing Supply in Berea, KY
How many homes are available in Berea, KY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
75 | 90 | +20.0% |
Summary: The Berea real estate market had 90 homes for sale in April 2024, a 20.0% 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 | 3 | 5 | +66.7% |
3 Bedrooms | 43 | 53 | +23.3% |
4 Bedrooms | 26 | 28 | +7.7% |
5+ Bedrooms | 2 | 3 | +50.0% |
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 increased by 66.7%, 3 bedroom homes increased by 23.3%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
18 | 18 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Berea in April 2024, the same as the previous month. Of the 18 sold homes, 50% were sold under asking, 28% were sold at asking, and 22% were sold over asking.
Days on Market for Berea, KY
How long does it take to sell a home in Berea, KY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
31 Days | 38 Days | +22.0% |
Summary: Homes in Berea had an average of 38 days on market in Apr 2024, up by 22% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in Berea; 67% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.