Is Cleveland, TN 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, Cleveland was a Seller's Market.
Key Takeaway
Cleveland is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Cleveland, TN
How much do homes in Cleveland, TN cost?
Median Sold Price
$300,000
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cleveland have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Cleveland was $300,000 in March 2024, up 2.9% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $30K | $91.2K | +204.0% |
| 2 Bedrooms | $196K | $229K | +16.8% |
| 3 Bedrooms | $274.6K | $289.9K | +5.6% |
| 4 Bedrooms | $368K | $390K | +6.0% |
| 5+ Bedrooms | $515.2K | $417.5K | -19.0% |
Summary: Cleveland housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 204%, 2 bedroom homes increased by 16.8%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 6%, and 5+ bedroom homes decreased by 19%.
Median Sold Price Compared To Nearby Cities
| Cleveland | $291.6K | $300K | +2.9% |
| Mc Donald | $497.5K | $370K | -25.6% |
Housing Supply in Cleveland, TN
How many homes are available in Cleveland, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 458 | 497 | +8.5% |
Summary: The Cleveland real estate market had 497 homes for sale in March 2024, a 8.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 68 | 68 | 0.0% |
| 3 Bedrooms | 229 | 247 | +7.9% |
| 4 Bedrooms | 122 | 133 | +9.0% |
| 5+ Bedrooms | 39 | 48 | +23.1% |
Summary: The Cleveland housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 23.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 102 | 78 | -23.5% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cleveland, you may be able to get a good deal. 55.1% of homes here sold below asking price last month.
Summary: A total of 78 homes were sold or pending in Cleveland in March 2024, down by 23.5% month-over-month. Of the 78 sold homes, 55% were sold under asking, 22% were sold at asking, and 23% were sold over asking.
Days on Market for Cleveland, TN
How long does it take to sell a home in Cleveland, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 30 Days | 24 Days | -19.6% |
Summary: Homes in Cleveland had an average of 24 days on market in Mar 2024, down by 19.6% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cleveland are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 78 homes were sold in Cleveland; 15% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed.