Cleveland, OH 44109 Real Estate Market Report

ZIP Code: 44109
Report Date: February 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Cleveland, OH (ZIP: 44109) market is currently characterized by a median sold price of $149,000, reflecting a competitive landscape despite some recent fluctuations. The neighborhood has increased 15% since 2023, indicating a positive trend in property values. However, the median days on market stands at 154, suggesting a slower sales velocity compared to previous periods. This extended timeframe may indicate a shift towards a more balanced market, where buyers are taking additional time to make purchasing decisions amidst elevated inventory levels.

With a median listing price of $170,000, there is a notable gap between asking prices and sold prices, which may create pricing friction as sellers adjust expectations. The market remains hot, supported by underlying economic stability and relatively affordable housing options, although the elevated interest rate pressure could impact future buyer activity. Overall, the market appears to be stabilizing, with continued demand but a need for sellers to align their pricing strategies with current market realities.

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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 Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Cleveland OH 44109 area around 5.875% are notably lower than the 6.87% average seen one year ago, presenting a cost opportunity for recent refinancers.

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 $149,000 indicates strong market performance, with the neighborhood having increased 15% since 2023.

2. A median listing price of $170,000 suggests potential pricing friction, as sellers may need to adjust expectations to align with buyer sentiment.

3. The median days on market of 154 reflects a slower sales velocity, indicating buyers are taking more time to make decisions in the current market.

4. The market temperature remains hot, supported by economic stability and relatively affordable housing options, despite elevated interest rate pressure.

5. The median market rent of $1,296 continues to rise, indicating a strong rental demand that may influence future buying decisions.

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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.