Cleveland, OH 44113 Real Estate Market Report

ZIP Code: 44113
Report Date: March 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The 44113 ZIP code has seen a median sold price of $369,000, reflecting a competitive market despite some recent price softening. The neighborhood has increased 15% since 2023, indicating a strong demand for properties. However, the market is currently characterized by elevated inventory levels, which may suggest a shift in buyer sentiment or a response to rising interest rates. The median days on market stands at 321 days, indicating slower sales velocity and potential pricing friction as buyers navigate a more cautious landscape.

In this environment, the median listing price of $204,450 presents a notable gap compared to the median sold price, highlighting seller expectations that may not align with current buyer behavior. The market temperature is classified as hot, driven by robust rental demand and a year-over-year increase in median market rent to $1,830. This suggests that while the sales market may be experiencing some challenges, the rental market remains strong, providing opportunities for investors and landlords.

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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 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 44113 market at approximately 6.67% APR are 0.22% higher than one week ago, indicating property owners locked in a slightly more favorable rate recently.

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 $369,000 indicates strong transaction activity despite recent price softening.

2. With a median listing price of $204,450, there is a significant gap compared to sold prices, suggesting potential pricing friction.

3. The median days on market is 321 days, reflecting slower sales velocity and a possible shift in buyer sentiment.

4. The market temperature is classified as hot, indicating ongoing demand despite elevated inventory levels.

5. Median market rent has increased to $1,830, highlighting strong rental demand in the area.

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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.