Living Berea Kentucky – Home Market

​The real estate market in Berea, Kentucky, has experienced notable growth over the past year. As of February 2025, the average home value reached $234,011, marking an 8.9% increase from the previous year. Homes are typically going pending in approximately 43 days, indicating a steady demand in the market.​Zillow+1Zillow+1Redfin+1Zillow+1

In December 2024, the median sold price for homes in Berea was $257,900, reflecting a 3.3% rise compared to December 2023. Notably, one-bedroom homes saw a significant price increase of 27%, while two-bedroom homes experienced a 17.4% uptick during this period. The number of homes sold in December 2024 was 24, a 20% decrease from the previous month, suggesting a seasonal slowdown.​Rocket Homes

The average time homes spent on the market in December 2024 was 24 days, a substantial decrease from 43 days in December 2023, highlighting a quicker turnaround for sellers. Additionally, 75% of homes sold during this month were on the market for less than 30 days. ​Rocket Homes

Despite the rising home prices, Berea is actively addressing the need for affordable housing. The city’s population grew by nearly 27% from 2010 to 2020, and this upward trend continues. In response, city officials are considering policy changes, such as adjusting zoning requirements, to facilitate the development of more affordable housing options. ​Fox56 News

Overall, Berea’s real estate market is characterized by increasing home values and a proactive approach to accommodating its growing population’s housing needs.​

Sources