Shaker Heights, OH 44120 Real Estate Market Report

ZIP Code: 44120
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in Shaker Heights, OH is currently characterized by a median sold price of $109,900, reflecting a down trend in prices year-over-year. This indicates a decrease in market value compared to previous periods, suggesting potential challenges for sellers in achieving higher sale prices. Despite this, the median days on market stands at 256, which indicates a slower sales velocity and may point to elevated inventory levels relative to sales activity.

The market appears to be in a neutral state, with moderate interest rate pressure at 6.38%, slightly higher than last year. This environment may lead to cautious buyer sentiment, as the median listing price of $120,000 suggests a pricing gap that could create friction in negotiations. Overall, the market dynamics indicate a need for sellers to be strategic in their pricing and marketing efforts to attract buyers in this evolving landscape.

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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

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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 Shaker Heights are averaging 6.38%, which is 0.3% higher than the 6.67% average recorded last year.

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 $109,900 reflects a down trend in market value, indicating potential challenges for sellers.

2. With a median days on market of 256, the market is experiencing slower sales velocity, suggesting elevated inventory levels relative to sales activity.

3. The median listing price of $120,000 indicates a pricing gap that may create friction in negotiations for sellers.

4. Current interest rates at 6.38% contribute to moderate pressure on buyer affordability and sentiment.

5. The market temperature is neutral, suggesting balanced conditions but with potential caution from buyers.

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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.