Cleveland, OH 44104 Real Estate Market Report

ZIP Code: 44104
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

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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 Cleveland, OH, are averaging 6.3%, reflecting a market environment where borrowing costs remain elevated compared to earlier 2026 levels.

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 primary market indicator is the median sold price, which stands at $86,000, signaling recent transaction-level value and anchoring price expectations for SFR and condo assets in 44104; given the concurrent median listing price of $99,000, sellers appear to be listing above recent sale levels which may indicate pricing friction between ask and achieved value.

2. Liquidity shows slower sales velocity: the median days on market is 295 days, which suggests transactions are taking materially longer to complete and may indicate softening in near-term turnover even as sales continue to occur.

3. Market balance is effectively neutral: the market temperature is neutral and price year-over-year trend is up, implying moderate appreciation without overheating; given interest rate pressure is moderate, buyers face elevated borrowing costs that may temper pace of price gains (cautious upward pressure).

4. Rental fundamentals are a supportive tailwind: median market rent is $1,000 and rent year-over-year trend is up, which, together with a shrinking development pipeline noted in market context, suggests sustained investor interest in rental-demand plays despite longer sale cycles, so consider underwriting with conservative vacancy assumptions and interest-rate sensitivity (rental strength).

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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.