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.
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
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
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
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.