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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing East Cleveland is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, East Cleveland was a Seller's Market.

Key Takeaway

East Cleveland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in East Cleveland, OH

How much do homes in East Cleveland, OH cost?

Median Sold Price

$55,750

$29/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$5,750(+11.5%)

Key Takeaway

Homes in East Cleveland have sold for 11.5% more than they did a year ago.

Summary: The median home sold price in East Cleveland was $55,750 in May 2024, up 11.5% from last year, and the median price per square foot was $29.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $55K$18.5K
-66.4%
3 $40K$58K
+45.0%
4 $60K$45K
-25.0%
5+ $58.5K$90K
+53.8%

Summary: East Cleveland housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 66.4%, 3 bedroom homes increased by 45%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 53.8%.

Median Sold Price Compared To Nearby Cities

East Cleveland
+11.5%
Cleveland
+3.1%
Cleveland Heights
+2.0%

Housing Supply in East Cleveland, OH

How many homes are available in East Cleveland, OH?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5150-2.0%

Summary: The East Cleveland real estate market had 50 homes for sale in May 2024, a 2.0% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 44
0.0%
3 811
+37.5%
4 2621
-19.2%
5+ 1314
+7.7%

Summary: The East Cleveland housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 37.5%, 4 bedroom homes decreased by 19.2%, and 5+ bedroom homes increased by 7.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
96-33.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in East Cleveland, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in East Cleveland in May 2024, down by 33.3% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.

Days on Market for East Cleveland, OH

How long does it take to sell a home in East Cleveland, OH?

Average Sale Time

May 2023May 2024CHANGE
113 Days88 Days-21.7%

Summary: Homes in East Cleveland had an average of 88 days on market in May 2024, down by 21.7% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in East Cleveland has remained consistent over time.

Summary: During May 2024, 6 homes were sold in East Cleveland; 0% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.

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

Report Updated 16 Days Ago

Newest Listings in East Cleveland, OH

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