Is Cleveland, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Cleveland has remained a Seller's Market.
Key Takeaway
Cleveland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cleveland, OH
How much do homes in Cleveland, OH cost?
Median Sold Price
$150,000
$91/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Cleveland have sold for 32% more than they did a year ago.
Summary: The median home sold price in Cleveland was $150,000 in November 2023, up 32% from last year, and the median price per square foot was $91.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $142K | $89.5K | -37.0% |
| 2 Bedrooms | $105K | $129.7K | +23.5% |
| 3 Bedrooms | $120K | $159.2K | +32.7% |
| 4 Bedrooms | $99.9K | $144.9K | +45.1% |
| 5+ Bedrooms | $115K | $146K | +27.0% |
Summary: Cleveland housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 37%, 2 bedroom homes increased by 23.5%, 3 bedroom homes increased by 32.7%, 4 bedroom homes increased by 45.1%, and 5+ bedroom homes increased by 27%.
Median Sold Price Compared To Nearby Cities
| Cleveland | $113.6K | $150K | +32.0% |
| Newburgh Heights | $113.5K | $134K | +18.1% |
| Brooklyn | $180K | $188.9K | +5.0% |
Housing Supply in Cleveland, OH
How many homes are available in Cleveland, OH?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 3,096 | 2,963 | -4.3% |
Summary: The Cleveland real estate market had 2,963 homes for sale in November 2023, a 4.3% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 31 | 31 | 0.0% |
| 2 Bedrooms | 350 | 332 | -5.1% |
| 3 Bedrooms | 1,505 | 1,463 | -2.8% |
| 4 Bedrooms | 781 | 751 | -3.8% |
| 5+ Bedrooms | 429 | 386 | -10.0% |
Summary: The Cleveland housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5.1%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 778 | 666 | -14.4% |
Asking Price vs. Sold Price
347 Homes Were Sold
Under Asking
90 Homes Were Sold
At Asking
229 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cleveland, you may be able to get a good deal. 52.1% of homes here sold below asking price last month.
Summary: A total of 666 homes were sold or pending in Cleveland in November 2023, down by 14.4% month-over-month. Of the 666 sold homes, 52% were sold under asking, 14% were sold at asking, and 34% were sold over asking.
Days on Market for Cleveland, OH
How long does it take to sell a home in Cleveland, OH?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 44 Days | 33 Days | -23.3% |
Summary: Homes in Cleveland had an average of 33 days on market in Nov 2023, down by 23.3% compared to last year.
Breakdown of Home Sale Times
414 Homes Were Sold
Under 30 Days
200 Homes Were Sold
In 30 - 90 Days
52 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cleveland are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 666 homes were sold in Cleveland; 62% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. 
Information Deemed Reliable, but Not Guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided 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. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Firelands MLS, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Copyright 2023 Firelands Multiple Listing Service. All rights reserved.
This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are marked with the BR logo and detailed information about them includes the name of the listing brokers. Information Deemed Reliable But Not Guaranteed. The information included in this listing 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. Copyright © 2023 DABR MLS. All Rights Reserved