$2,126 Closing Credit*
$179,000
2 Beds
•1 Full Bath
Listing Office: Coldwell Banker McMahan
Is Berea, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Berea has remained a Seller's Market.
Key Takeaway
Berea is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Berea, KY
How much do homes in Berea, KY cost?
Median Sold Price
$258,000
-
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$13,683(+5.6%)
Key Takeaway
Homes in Berea have sold for 5.6% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $129.9K | $164.9K | +27.0% |
| 2 Bedrooms | $137.5K | $158.5K | +15.3% |
| 3 Bedrooms | $241.9K | $257.4K | +6.4% |
| 4 Bedrooms | $285K | $295K | +3.5% |
| 5+ Bedrooms | $292K | $345K | +18.2% |
Summary: Berea housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 18.2%.
Median Sold Price Compared To Nearby Cities
| Richmond | $279.1K | $305K | +9.3% |
| Berea | $244.3K | $258K | +5.6% |
Housing Supply in Berea, KY
How many homes are available in Berea, KY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 129 | 137 | +6.2% |
Summary: The Berea real estate market had 137 homes for sale in November 2024, a 6.2% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 90 | 93 | +3.3% |
| 4 Bedrooms | 29 | 31 | +6.9% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Berea housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 29 | +26.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berea, expect to pay close to the asking price. 48.3% of homes here sold near the asking price last month.
Summary: A total of 29 homes were sold or pending in Berea in November 2024, up by 26.1% month-over-month. Of the 29 sold homes, 34% were sold under asking, 48% were sold at asking, and 17% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 45 Days | 30 Days | -32.6% |
Summary: Homes in Berea had an average of 30 days on market in Nov 2024, down by 32.6% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Berea are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 29 homes were sold in Berea; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Lexington-Bluegrass Association of Realtors Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than this broker, are marked with the IDX logo or the IDX thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © 2024 LBAR Multiple Listing Service. All rights reserved.