Cleveland, OH 44113 Real Estate Market Report

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

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Executive Overview

The median sold price in Cleveland, OH (ZIP: 44113) is $375,000, reflecting a competitive market environment. Despite a generally stable pricing trend, the market has shown signs of rebalancing, with elevated inventory levels suggesting a shift towards more buyer-friendly conditions. The neighborhood has experienced a flat price year-over-year trend, indicating that while prices are stable, they are not currently appreciating significantly.

Transaction activity appears moderate, with a median of 269 days on market, suggesting slower sales velocity. This extended time frame for properties to sell may indicate pricing friction or a need for sellers to adjust expectations. The current market temperature is assessed as neutral, which aligns with the observed conditions of elevated inventory relative to sales activity, hinting at a potential shift in market dynamics moving forward.

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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 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 area around 6.09% are notably lower than the 6.87% average seen one year ago, presenting a favorable market comparison for refinancing.

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. $375,000 is the median sold price, indicating a competitive market but with signs of rebalancing.

2. Elevated inventory levels suggest a potential shift towards more favorable conditions for buyers, as supply exceeds sales activity.

3. The median days on market stands at 269, reflecting slower sales velocity and potential pricing friction.

4. The median market rent is $1,830, with a year-over-year trend that is up, indicating strong rental demand.

5. Current interest rate pressure is elevated, which may affect buyer affordability and overall market dynamics.

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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.