Cleveland, OH 44108 Real Estate Market Report

ZIP Code: 44108
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 6.4%, reflecting a stable market environment for property owners in this area compared to earlier 2026 benchmarks.

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. $83,000 — The neighborhood's median sold price is the best indicator of current value and recent transaction activity, and it sits below the asking level (median listing price $94,175), which suggests pricing friction between seller expectations and closed transactions.

2. 339 days — The median days on market is long, which points to slower sales velocity and suggests moderate liquidity pressure; combined with elevated inventory relative to sales activity, this may require sellers to be more price-competitive to close deals.

3. $58.4 per sqft and $1,195 median market rent — Price per square foot remains low while median market rent is rising, and the rent year-over-year trend is up, indicating rental demand is firm and may support investor interest even as sales prices have softened.

4. $83,000 (price trajectory) — The price year-over-year trend is down while market temperature is neutral and interest rate pressure is moderate; current 30-year fixed mortgage rates are averaging 6.4%, which may keep some buyers cautious but not fully sidelined, supporting a forecast for modest price stabilization rather than rapid recovery.

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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.

Cleveland, OH 44108 Real Estate Market Report

ZIP Code: 44108
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo 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

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 Cleveland, OH are averaging 6.4%, reflecting a stable market environment for property owners in this area compared to earlier 2026 benchmarks.

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. $242,000 is the median sold price and represents the primary indicator of realized value in 44108; paired with a median days on market of 387, this suggests slower sales velocity and meaningful pricing friction in recent transactions.

2. The neighborhood records a median price per square foot of 154 alongside a median market rent of 1,050, with rents showing a year-over-year up trend — indicating steady rental demand even as sale prices have softened.

3. Price momentum is negative on a year-over-year basis (down), while broader market indicators show a neutral market temperature and moderate interest rate pressure; current 30-year fixed mortgage rates average 6.4%, which may keep owner financing conditions relatively stable but not stimulative.

4. Sample-level supply conditions appear to show a relatively constrained active supply in the analyzed sample, which, combined with the long median days on market, suggests pricing negotiation and selective buyer activity rather than rapid turnover; expect continued caution from sellers until comparable sold prices stabilize.

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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.