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$107,737
- The average Cleveland, OH home value is $107,737, up 10.0% over the past year and goes to pending in around 11 days.
www.zillow.com/home-values/24115/cleveland-oh/Cleveland, OH Housing Market: 2024 Home Prices & Trends - Zillow
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Homes in Cleveland receive 3 offers on average and sell in around 26 days. The median sale price of a home in Cleveland was $125K last month, up 11.9% since last year. The median sale price per square foot in Cleveland is $85, up 7.6% since last year.
- Cleveland Housing Market Overview
- Cleveland Housing Market Trends
- Cleveland Housing Market Forecast 2024-2025
- Likelihood of A Housing Crash in Cleveland
- Cleveland Real Estate Investment Overview
Cleveland, Ohio, boasts a rich history and a vibrant cultural scene. The city is known for its affordability compared to other major metropolitan areas, making it an attractive option for both buyers and investors. While Cleveland's housing market has faced its share of challenges in the past, it has experienced a period of growth and resurgence in...
Key Takeaways
1. Median home prices in Cleveland increased by 10.9%year-over-year as of July 2024. 2. Downtown Cleveland saw a 14.0% declinein home prices compared to the previous year. 3. Inventory levels are relatively low, contributing to increasing buyer competition. 4. Rental market trends indicate rising rental prices across various neighborhoods. 5. Market Forecast: Moderate stabilization expected, with potential for continued appreciation in certain areas, but risk factors remain. The current clima...
Inventory Dynamics
The low inventory levels in Cleveland are a significant driver of price increases. In many neighborhoods, homes are selling quickly, often within a few days of being listed. The demand continues to outpace supply, leading to bidding wars among buyers, particularly for well-maintained homes in desirable areas. As of July 2024, the overall housing inventory in Cleveland remains low, which further exacerbates the competition among buyers.
Rental Market Trends
The rental market in Cleveland is also showing upward trends. According to Zillow, rental prices have been on the rise, reflecting increased demand from newcomers moving to the city and a strong local economy. For instance, the median rent in various neighborhoods has increased significantly, making housing options tighter for renters. The multifamily rental units are particularly sought after, driving rental prices higher.
Looking ahead, experts predict that the Cleveland housing market will continue on a path of moderate appreciation, although specific trends may vary significantly by neighborhood. The current economic conditions suggest that growth is likely to stabilize, with some regions experiencing stronger performance due to desired amenities and ease of acces...
The question of whether Cleveland is poised for a housing crash is a pertinent one. Currently, the fundamentals of the market suggest a lower likelihood of a severe downturn. With local job growth, increasing demand for homes, and ongoing urban developments, the market seems resilient. Nevertheless, it’s essential to consider external factors such ...
Should you buy investment property in Cleveland? Looking for a home in Cleveland? These up-to-date Cleveland real estate statistics and trends will help you make smart investing decisions. You need to drill deeper into local trends if you want to know what the Cleveland market holds for the year ahead. We have already discussed the Cleveland housin...
Sep 1, 2024 · Summary: The median home sold price in Cleveland was $162,897 in September 2024, up 5.1% from last year, and the median price per square foot was $99. Median Sold Price By Bedroom Count.
Homes in Cleveland have a median price of $125,000, which means you’ll need $12,500 for a 10% down payment. Housing costs have increased 4.3% in the past year.
The basic construction of custom homes in Cleveland typically cost $125 per square foot. This rate can go as low as $100 per square foot or as high as $150 per square foot, depending on several factors: the quality of materials, labor fees, complexity, size, and design.
Housing market. Schools. Amenities. Homes for sale. Explore. Cleveland, OH. What are the best neighborhoods in Cleveland? Some of the best neighborhoods in or around Cleveland, Ohio are Old...
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related to: How much does a Cleveland home cost?Manage Your Monthly Mortgage Payment Online Now. Take The Stress Away From Home Financing. Be In Control Of Your Mortgage Loans. Get Expert Advice & Rate Info.
Highest Satisfaction for Mortgage Origination, 2010-2017 - J.D. Power
Benefit From Our Trusted Cleveland Agent Research. Totally Free & Unbiased. High Quality Proven Neighborhood Experts Compete To Work For You. Free Service
Calculate Your House's Estimated Market Value in Less Than 2 Minutes. Try Us Today! Use Our Fast & 100% Free Calculator to Get Your House's Estimated Value. Try Us Today!
Data-driven approach helps people sell for more money - VentureBeat
