Cleveland, OH 44106 Real Estate Market Report

ZIP Code: 44106
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Cleveland, OH (ZIP: 44106) market is currently characterized by a median sold price of $369,999, reflecting a notable year-over-year price decline. This decrease suggests a shift in market dynamics, potentially impacting seller expectations and buyer sentiment. The median days on market stands at 309, indicating a slower sales velocity and a more balanced market temperature compared to the broader Cleveland metro area, which is experiencing modest price appreciation.

Despite the declining sold prices, the rental market in the area is showing resilience, with median market rent increasing to $1,560. This upward trend in rental rates may indicate a growing demand for rental properties, contrasting with the overall price decline in sales. The current property tax rate of 2.64% may also influence buyer decisions as they navigate the market with moderate interest rate pressure, currently around 5.875% for 30-year fixed mortgages, which is lower than previous rates. Overall, the market appears to be stabilizing, albeit with elevated inventory levels relative to sales activity.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Cleveland OH market around 5.875% are notably lower than the 6.375% rate seen in mid-February 2026, presenting a cost-saving opportunity for property owners.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $369,999 indicates a decline in property values year-over-year.

2. With a median days on market of 309, the market is experiencing slower sales velocity and extended listing periods.

3. The median market rent has risen to $1,560, suggesting a growing demand for rental properties despite declining sales prices.

4. Current interest rates around 5.875% present a cost-saving opportunity for potential buyers compared to previous rates.

5. The market temperature is neutral, reflecting a balance between supply and demand despite elevated inventory levels.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.