Cleveland, OH 44109 Real Estate Market Report

ZIP Code: 44109
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 the Cleveland 44109 area are averaging 6.34%, reflecting a stable market environment for property owners compared to recent 2026 fluctuations.

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-value signal is the $129,900 median sold price, which represents the representative recent sale in the neighborhood and suggests realized transaction levels; this is the most reliable indicator of market value and should guide offer and appraisal considerations more than asking prices.

2. There is a notable pricing gap between the $150,000 median listing price and the $129,900 median sold price, which may indicate seller expectations are higher than recent transaction outcomes; pricing friction appears present and could prolong negotiations unless listing expectations adjust.

3. Liquidity appears muted: the 233 median days on market points to slower sales velocity relative to lower-DOM markets, and the sample context indicates a relatively constrained active supply that may be supporting price stability; balanced to cautious market conditions suggest buyers should allow for extended search timelines.

4. Rental and financing context supports investor interest: the $1,075 median market rent is rising (rent year-over-year trend: up), while interest rate pressure is moderate and local 30-year fixed mortgages are averaging 6.34%, which together create a stable but cautious backdrop for buy-to-rent strategies.

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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 44109 Real Estate Market Report

ZIP Code: 44109
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

Liquidity metrics unavailable due to insufficient data quality.

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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 44109 area are averaging 6.34%, reflecting a stable market environment for property owners compared to recent 2026 fluctuations.

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. median sold price is the primary indicator of market value and recent transaction activity for 44109; however, a specific median sold price value is not provided in the available metrics, which means this analysis relies on trend and sample context rather than a single reported sale-price median.

2. Recent transaction context shows up year-over-year pricing and a neutral market temperature, indicating modest appreciation with balanced negotiating conditions between buyers and sellers.

3. Rental performance is strengthening: the reported median market rent is 1,000 and rent year-over-year trend is up, suggesting improving cash-flow prospects for investors or landlords in the area.

4. Interest-rate context and liquidity: interest rate pressure is described as moderate and local mortgage conditions note Current 30-year fixed mortgage rates in the Cleveland 44109 area are averaging 6.34%, which may temper rapid price acceleration and contributes to a balanced sales velocity; sample-based transaction volume is described as moderate, with elevated inventory relative to sales activity appearing possible from the sample data.

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Notable Properties

The following 4 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.