Home Values

Amherst Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$135,100

  • 1.7% 1-year change
  • 1.9% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Cold

Buyers' Market
Sellers' Market

The median home value in Amherst is $135,100. Amherst home values have gone up 1.7% over the past year and Zillow predicts they will rise 1.9% within the next year. The median list price per square foot in Amherst is $88, which is higher than the Cleveland Metro average of $87. The median price of homes currently listed in Amherst is $149,900 while the median price of homes that sold is $127,923.

Foreclosures will be a factor impacting home values in the next several years. In Amherst 2.2 homes are foreclosed (per 10,000). This is lower than the Cleveland Metro value of 3.7 and also lower than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Amherst is 5.2%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Amherst homeowners underwater on their mortgage is 18.6%, which is lower than Cleveland Metro at 20.8%.

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Relative ZHVI
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Amherst Market Overview

Data through Sep 30, 2014
  • $135,100 ZHVI
  • 1.9% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Sep 30, 2015)
  • $149,900 Median listing price
  • $127,923 Median sale price
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Amherst Market Health

Data through Sep 30, 2014
  • 4.3/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 18.6% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 5.2% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

2.2 homes Amherst
3.7 homes Cleveland Metro
4 homes United States
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Nearby Cities

Name Median ZHVI
Sheffield $167,000
North Ridgeville $148,000
Lagrange $141,600
Name Median ZHVI
Vermilion $131,900
South Amherst $119,500
Oberlin $114,900
Name Median ZHVI
Sheffield Lake $94,200
Elyria $85,500
Lorain $63,900

Listings & Sales

Data through Sep 30, 2014
  • $88 Median list price / sq ft
  • $81 Median sale price / sq ft
  • 51.9% Listings with price cut
17.8%
Sold below listing
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Amherst Rentals

Data through Sep 30, 2014
  • Zillow Rent Index

  • $1,120 Amherst
    $1,150 Cleveland Metro
    $1,335 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.7 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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