Is Cleveland, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cleveland is a seller's market

Buyer's
Market

Difference Since August 2021

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.

How much do homes in Cleveland, OH cost?

Median Sold Price

$119,920

$72/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$9,942(+9.0%)

Key Takeaway

Homes in Cleveland have sold for 9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $136.5K$135K
-1.1%
2 $110.5K$116.8K
+5.6%
3 $119.9K$125K
+4.3%
4 $92.6K$106.6K
+15.1%
5+ $95.7K$115.3K
+20.5%

Median Sold Price Compared To Nearby Cities

Brooklyn
+16.7%
Cleveland
+9.0%
Newburgh Heights
-0.5%

How many homes are available in Cleveland, OH?

Number of Homes For Sale

Jul 2022Aug 2022%
1,8721,949+4.1%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 2025
+25.0%
2 235247
+5.1%
3 850867
+2.0%
4 515546
+6.0%
5+ 252264
+4.8%

Number of Homes Sold

Jul 2022Aug 2022%
358395+10.3%

Asking Price vs. Sold Price

195 Homes Were Sold
Under Asking

63 Homes Were Sold
At Asking

137 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cleveland, you may be able to get a good deal. 49.4% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
35 Days42 Days+17.2%

Breakdown of Home Sale Times

221 Homes Were Sold
Under 30 Days

129 Homes Were Sold
In 30 - 90 Days

45 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Cleveland are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Cleveland, OH

Number of homes for sale in Cleveland, OH real estate market have reached 1,949. The number of homes for sale in Cleveland, OH increased by 4.1% between July 2022 and August 2022. The median list price of listings available in August 2022 was $119,920, while the average time on the real estate market was 42 days. Listing prices have changed in this real estate market between July 2022 and August 2022: 1 bedroom properties prices decreased by 1.1%, 2 bedrooms properties became 5.6% more expensive, 3 bedrooms properties became 4.3% more expensive, 4 bedrooms properties became 15.1% more expensive, prices of 5 bedrooms properties went up by 20.5%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes became 25% more available, number of 2 bedrooms homes increased by 5.1%, number of 3 bedrooms homes increased by 2%, number of 4 bedrooms homes increased by 6%, volume of 5 bedrooms homes went up by 4.8%. In August 2022, from all listings sold in Cleveland, OH there were more than 137 sold above asking price, over 195 sold below and more than 63 were sold right at the asked price.

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