Cleveland, OH 44113 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

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.

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, the median sold price of $458,000, points to realized transaction values that are substantially higher than current asking expectations; this gap suggests pricing friction between sellers and closed transactions and may indicate selective demand for certain property conditions or submarkets.
2. The median days on market of 343 signals slower sales velocity relative to typical fast-turn markets and appears to reflect extended time-to-close even as the price year-over-year trend is up, implying buyers are selective and transactions are concentrated in specific price bands.
3. Despite a relatively low median listing price of $226,995 compared with the median sold price, the market context should be interpreted cautiously; this disparity may reflect differences in property mix or seller pricing strategies rather than broad market depreciation, and it appears to signal listing-to-sale mismatches rather than uniform downward pricing.
4. The rental and financing environment is supportive of holding strategies: median market rent of $1,595 is trending up, while interest rate pressure is flagged as elevated (local 30-year fixed average ~6.53%), which may encourage owners to retain income properties and constrain immediate buyer refinance activity.

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.