Cleveland, OH 44111 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

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.

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 market indicator is the median sold price of $135,500, which establishes recent transaction value and sits below the median listing price of $154,900, signaling a seller asking premium relative to completed sales and a pricing gap that may require seller concessions to realize offers.
2. The median days on market is 204, indicating slower sales velocity and suggesting pricing friction or longer holding periods even though active supply appears relatively constrained in the analyzed sample.
3. Pricing context: the median price per square foot is $123 and the median market rent is $1,100; with both price and rent year-over-year trends up, this supports modest appreciation, while interest rate pressure is characterized as moderate (Current 30-year fixed mortgage rates averaging approximately 6.5%).
4. Actionable guidance: given the median sold price as the definitive value anchor, sellers should align asking strategies closer to recent solds to reduce days on market, and investors should consider the growing rental demand and rising rents when evaluating acquisitions, while pricing discipline is important due to the observed pricing gap between listing and sold levels.

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.