Is Beachwood, 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, Beachwood has remained a Seller's Market.
Housing Prices in Beachwood, OH
How much do homes in Beachwood, OH cost?
Median Sold Price
$395,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Beachwood was $395,000 in May 2024, down 2.5% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $155.5K | N/A |
2 Bedrooms | $303.5K | $295K | -2.8% |
3 Bedrooms | $350K | $375.5K | +7.3% |
4 Bedrooms | $415K | $451.2K | +8.7% |
5+ Bedrooms | $655K | $600K | -8.4% |
Summary: Beachwood 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 decreased by 2.8%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes decreased by 8.4%.
Median Sold Price Compared To Nearby Cities
University Heights | $232K | $268.5K | +15.8% |
Pepper Pike | $605K | $650K | +7.4% |
Lyndhurst | $207.8K | $215K | +3.4% |
Beachwood | $405K | $395K | -2.5% |
Housing Supply in Beachwood, OH
How many homes are available in Beachwood, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
79 | 71 | -10.1% |
Summary: The Beachwood real estate market had 71 homes for sale in May 2024, a 10.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 14 | 9 | -35.7% |
3 Bedrooms | 25 | 27 | +8.0% |
4 Bedrooms | 29 | 22 | -24.1% |
5+ Bedrooms | 10 | 12 | +20.0% |
Summary: The Beachwood 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 decreased by 35.7%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 24.1%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
23 | 17 | -26.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Beachwood in May 2024, down by 26.1% month-over-month. Of the 17 sold homes, 59% were sold under asking, 24% were sold at asking, and 18% were sold over asking.
Days on Market for Beachwood, OH
How long does it take to sell a home in Beachwood, OH?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 49 Days | +154.9% |
Summary: Homes in Beachwood had an average of 49 days on market in May 2024, up by 154.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 17 homes were sold in Beachwood; 24% of homes were sold within 30 days, 71% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.