Is East Cleveland, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$55,000
$26/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in East Cleveland have sold for 5.1% less than they did a year ago.
Summary: The median home sold price in East Cleveland was $55,000 in March 2024, down 5.1% from last year, and the median price per square foot was $26.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $55K | $17K | -69.1% |
| 3 Bedrooms | $40K | $51.2K | +28.1% |
| 4 Bedrooms | $63K | $46.2K | -26.6% |
| 5+ Bedrooms | $69K | $81K | +17.4% |
Summary: East Cleveland housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 69.1%, 3 bedroom homes increased by 28.1%, 4 bedroom homes decreased by 26.6%, and 5+ bedroom homes increased by 17.4%.
Median Sold Price Compared To Nearby Cities
| Cleveland Heights | $195K | $199.9K | +2.6% |
| Cleveland | $154.9K | $157.2K | +1.5% |
| East Cleveland | $57.9K | $55K | -5.1% |
Housing Supply in East Cleveland, OH
How many homes are available in East Cleveland, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 62 | 51 | -17.7% |
Summary: The East Cleveland real estate market had 51 homes for sale in March 2024, a 17.7% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 15 | 10 | -33.3% |
| 4 Bedrooms | 28 | 25 | -10.7% |
| 5+ Bedrooms | 15 | 12 | -20.0% |
Summary: The East Cleveland housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 10.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 7 | -58.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Cleveland, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in East Cleveland in March 2024, down by 58.8% month-over-month. Of the 7 sold homes, 71% were sold under asking, 0% were sold at asking, and 29% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 67 Days | 82 Days | +22.5% |
Summary: Homes in East Cleveland had an average of 82 days on market in Mar 2024, up by 22.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in East Cleveland has remained consistent over time.
Summary: During March 2024, 7 homes were sold in East Cleveland; 14% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
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