Is Cleveland, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
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
$155,628
$94/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Cleveland was $155,628 in February 2024, up 0.4% from last year, and the median price per square foot was $94.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $100K | $87K | -13.0% |
2 Bedrooms | $130.5K | $134.9K | +3.4% |
3 Bedrooms | $159.9K | $163.5K | +2.3% |
4 Bedrooms | $160K | $151.9K | -5.0% |
5+ Bedrooms | $165.1K | $159.5K | -3.4% |
Summary: Cleveland housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 5%, and 5+ bedroom homes decreased by 3.4%.
Median Sold Price Compared To Nearby Cities
Newburgh Heights | $115K | $135K | +17.4% |
Brooklyn | $176.8K | $189.9K | +7.4% |
Cleveland | $155K | $155.6K | 0.4% |
Housing Supply in Cleveland, OH
How many homes are available in Cleveland, OH?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
2,436 | 2,521 | +3.5% |
Summary: The Cleveland real estate market had 2,521 homes for sale in February 2024, a 3.5% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 22 | 23 | +4.5% |
2 Bedrooms | 271 | 292 | +7.7% |
3 Bedrooms | 1,142 | 1,149 | +0.6% |
4 Bedrooms | 669 | 719 | +7.5% |
5+ Bedrooms | 332 | 338 | +1.8% |
Summary: The Cleveland housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 1.8%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
573 | 547 | -4.5% |
Asking Price vs. Sold Price
307 Homes Were Sold
Under Asking
82 Homes Were Sold
At Asking
158 Homes Were Sold
Over Asking
Summary: A total of 547 homes were sold or pending in Cleveland in February 2024, down by 4.5% month-over-month. Of the 547 sold homes, 56% were sold under asking, 15% were sold at asking, and 29% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
53 Days | 46 Days | -12.9% |
Summary: Homes in Cleveland had an average of 46 days on market in Feb 2024, down by 12.9% compared to last year.
Breakdown of Home Sale Times
264 Homes Were Sold
Under 30 Days
195 Homes Were Sold
In 30 - 90 Days
88 Homes Were Sold
Over 90 Days
Summary: During February 2024, 547 homes were sold in Cleveland; 48% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.