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.
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
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
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
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.