Is Cleveland, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
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.
Housing Prices in Cleveland, OH
How much do homes in Cleveland, OH cost?
Median Sold Price
$157,362
$95/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Cleveland have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Cleveland was $157,362 in April 2024, up 1.3% from last year, and the median price per square foot was $95.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $102.5K | $90K | -12.2% |
| 2 Bedrooms | $133.9K | $134.9K | +0.7% |
| 3 Bedrooms | $159.9K | $164.9K | +3.1% |
| 4 Bedrooms | $160.3K | $154.9K | -3.4% |
| 5+ Bedrooms | $159.9K | $160.4K | 0.3% |
Summary: Cleveland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.2%, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 3.1%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes increased by 0.3%.
Median Sold Price Compared To Nearby Cities
| Brooklyn | $175K | $195K | +11.4% |
| Cleveland | $155.3K | $157.3K | +1.3% |
Housing Supply in Cleveland, OH
How many homes are available in Cleveland, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2,690 | 2,659 | -1.2% |
Summary: The Cleveland real estate market had 2,659 homes for sale in April 2024, a 1.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 33 | 29 | -12.1% |
| 2 Bedrooms | 311 | 316 | +1.6% |
| 3 Bedrooms | 1,226 | 1,225 | -0.1% |
| 4 Bedrooms | 788 | 768 | -2.5% |
| 5+ Bedrooms | 332 | 321 | -3.3% |
Summary: The Cleveland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.1%, 2 bedroom homes increased by 1.6%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes decreased by 3.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 704 | 722 | +2.6% |
Asking Price vs. Sold Price
344 Homes Were Sold
Under Asking
94 Homes Were Sold
At Asking
284 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cleveland, you may be able to get a good deal. 47.6% of homes here sold below asking price last month.
Summary: A total of 722 homes were sold or pending in Cleveland in April 2024, up by 2.6% month-over-month. Of the 722 sold homes, 48% were sold under asking, 13% were sold at asking, and 39% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 44 Days | 41 Days | -5.7% |
Summary: Homes in Cleveland had an average of 41 days on market in Apr 2024, down by 5.7% compared to last year.
Breakdown of Home Sale Times
400 Homes Were Sold
Under 30 Days
224 Homes Were Sold
In 30 - 90 Days
98 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 April 2024, 722 homes were sold in Cleveland; 55% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Copyright 2024 MLS Now. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Buyer to verify all information. The information provided is 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. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged.
The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.