Cleveland Heights, OH 44118 Real Estate Market Report

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.

Market Metrics

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.

Rental Market

Property Taxes

Liquidity & Velocity

Market Trends & Context

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

Key Findings

1. The neighborhood's primary indicator, the median sold price, is 272,500, which with a median days on market of 34 suggests relatively brisk transaction pacing for recorded sales despite broader rate pressure.
2. Listing pressure shows a narrow spread between the median listing price (274,900) and the median sold price (272,500), which may indicate limited pricing friction and that sellers' expectations are closely aligned with recent sale values.
3. Market strength signals are positive: the price year-over-year trend is up and the market temperature is hot, implying continued upward pricing momentum—however, interest rate pressure is elevated, a headwind that may moderate buyer affordability.
4. Rental context: the median market rent is 1,375 and the median price per square foot is 147, while the rent year-over-year trend is up; these facts suggest improving rental demand but should be weighed against elevated borrowing costs (current average 30-year fixed rates ~6.65%).

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.