Is University Heights, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, University Heights has remained a Seller's Market.
Housing Prices in University Heights, OH
How much do homes in University Heights, OH cost?
Median Sold Price
$268,593
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in University Heights was $268,593 in May 2024, up 15.8% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $158.3K | $192.7K | +21.7% |
3 Bedrooms | $209.5K | $234.5K | +11.9% |
4 Bedrooms | $254.5K | $292K | +14.7% |
5+ Bedrooms | $375K | $293.5K | -21.7% |
Summary: University Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.7%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes decreased by 21.7%.
Median Sold Price Compared To Nearby Cities
University Heights | $232K | $268.5K | +15.8% |
Shaker Heights | $284.5K | $305K | +7.2% |
South Euclid | $162.3K | $168.4K | +3.7% |
Cleveland Heights | $196K | $199.9K | +2.0% |
Beachwood | $405K | $395K | -2.5% |
Housing Supply in University Heights, OH
How many homes are available in University Heights, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
62 | 67 | +8.1% |
Summary: The University Heights real estate market had 67 homes for sale in May 2024, a 8.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 20 | 22 | +10.0% |
4 Bedrooms | 35 | 41 | +17.1% |
5+ Bedrooms | 7 | 4 | -42.9% |
Summary: The University Heights housing inventory by bedroom type for May 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 10%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes decreased by 42.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 23 | +43.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in University Heights in May 2024, up by 43.8% month-over-month. Of the 23 sold homes, 22% were sold under asking, 17% were sold at asking, and 61% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
28 Days | 23 Days | -17.8% |
Summary: Homes in University Heights had an average of 23 days on market in May 2024, down by 17.8% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 23 homes were sold in University Heights; 74% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.