Cleveland Housing Market Report December 2024•Cuyahoga County, Ohio

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Housing Prices in Cleveland, OH

How much do homes in Cleveland, OH cost?

Housing Market Conditions

Is Cleveland, OH a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Cleveland is a Seller's Market

Difference Since December 2023

Since last year, Cleveland has remained a Seller's Market.

Insight

Cleveland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$167,853$102/SqFt
+$12,567
+8.1%

Based on all homes sold in the last 12 months

Insight

Homes in Cleveland have sold for 8.1% more than they did a year ago.

Summary: The median home sold price in Cleveland was $167,853 in December 2024, up 8.1% from last year, and the median price per square foot was $102.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Brooklyn
+8.4%
Cleveland
+8.1%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$90K$96.7K
+7.5%
2$135K$146.2K
+8.3%
3$160.5K$175K
+9.0%
4$154.9K$162.6K
+5.0%
5$159.4K$163.8K
+2.8%

Summary: Cleveland housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +7.5%. The home price for 2 bedroom homes increased by +8.3%. The home price for 3 bedroom homes increased by +9.0%. The home price for 4 bedroom homes increased by +5.0%. The home price for 5 bedroom homes increased by +2.8%.

Housing supply in Cleveland, OH

How many homes are available in Cleveland, OH?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
2,746Last MonthDec 2024
2,9582 months agoNov 2024
-7.2 %
Change MoMNov – Dec

Summary: The Cleveland real estate market had 2,746 homes for sale in Dec 2024, a 7.2 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
646Last MonthDec 2024
6852 months agoNov 2024
-5.7 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
13330
-9.1%
2348318
-8.6%
31,3651,269
-7.0%
4783737
-5.9%
5429392
-8.6%

Summary: Cleveland housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes decreased by -9.1%. The inventory for 2 bedroom homes decreased by -8.6%. The inventory for 3 bedroom homes decreased by -7.0%. The inventory for 4 bedroom homes decreased by -5.9%. The inventory for 5 bedroom homes decreased by -8.6%.

Asking Price vs. Sold Price

How much do homes in Cleveland, OH cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price201 Homes

At Asking Price86 Homes

Under Asking Price358 Homes

Insight

If you're buying a home in Cleveland, you may be able to get a good deal. 55.5% of homes here sold below asking price last month.

Summary: A total of 646 homes were sold or pending in Cleveland in December 2024, down by 5.7% month-over-month. Of the 645 sold homes, 56% were sold under asking, 13% were sold at asking, and and 31% were sold over asking.

Days on Market for Cleveland, OH

How long does it take to sell a home in Cleveland, OH?

Breakdown of Home Sale Times

Under 30 Days326 Homes

30 – 90 Days235 Homes

Over 90 Days85 Homes

Insight

Many homes in Cleveland are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 646 homes were sold in Cleveland; 50% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
46 DaysThis YearDec 2024
40 Days1 year agoDec 2023
+14.8 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Cleveland had an average listing age of 46 days in Dec 2024, up by 14.8% compared to the previous year.

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Newest Listings in Cleveland, OH

What homes are available in Cleveland, OH?

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Nearby markets

Popular Cities with Homes for Sale in Ohio

MLS Disclaimers and Copyright

Based on information from MLS Now, Columbus and Central Ohio Regional MLS, and Mansfield Assocation of REALTORS® MLS for the period 01/01/2023 - 01/01/2025

IDXCopyright 2025 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.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:21:05 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX 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.

Copyright © 2025 Columbus and Central Ohio Regional Multiple Listing Service. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:21:10 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
The information being 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. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither Listing Broker(s) this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. Copyright Mansfield Association of REALTORS® Multiple Listing Service. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:16:13 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.