$2,719 Closing Credit*
$229,000
1,969 SqFt
3 Beds
•2 Full Baths
Kelly MacCarthy, Listing Office: Century 21 Homestar
Is Cleveland, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$165,015
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$9,299(+6.0%)
Key Takeaway
Homes in Cleveland have sold for 6% more than they did a year ago.
Summary: The median home sold price in Cleveland was $165,015 in November 2024, up 6% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $89.9K | $97.7K | +8.7% |
| 2 Bedrooms | $134.8K | $144K | +6.8% |
| 3 Bedrooms | $160.1K | $174.7K | +9.1% |
| 4 Bedrooms | $155.3K | $160K | +3.0% |
| 5+ Bedrooms | $160K | $162.7K | +1.7% |
Summary: Cleveland housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 1.7%.
Median Sold Price Compared To Nearby Cities
| Brooklyn | $185.2K | $200K | +8.0% |
| Cleveland | $155.7K | $165K | +6.0% |
Housing Supply in Cleveland, OH
How many homes are available in Cleveland, OH?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3,226 | 3,074 | -4.7% |
Summary: The Cleveland real estate market had 3,074 homes for sale in November 2024, a 4.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 40 | 35 | -12.5% |
| 2 Bedrooms | 383 | 368 | -3.9% |
| 3 Bedrooms | 1,481 | 1,405 | -5.1% |
| 4 Bedrooms | 874 | 836 | -4.3% |
| 5+ Bedrooms | 448 | 430 | -4.0% |
Summary: The Cleveland housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 3.9%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 759 | 629 | -17.1% |
Asking Price vs. Sold Price
310 Homes Were Sold
Under Asking
96 Homes Were Sold
At Asking
223 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cleveland, you may be able to get a good deal. 49.3% of homes here sold below asking price last month.
Summary: A total of 629 homes were sold or pending in Cleveland in November 2024, down by 17.1% month-over-month. Of the 629 sold homes, 49% were sold under asking, 15% were sold at asking, and 35% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 35 Days | 41 Days | +17.4% |
Summary: Homes in Cleveland had an average of 41 days on market in Nov 2024, up by 17.4% compared to last year.
Breakdown of Home Sale Times
343 Homes Were Sold
Under 30 Days
213 Homes Were Sold
In 30 - 90 Days
73 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 November 2024, 629 homes were sold in Cleveland; 55% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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