Cleveland, OH 44120 Real Estate Market Report

ZIP Code: 44120
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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.

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Key Findings

1. The primary market indicator is the median sold price 131,000, which represents the most reliable signal of realized value in the neighborhood and suggests pricing should be calibrated to recent transaction levels rather than asking prices.

2. There is a material pricing gap between the median listing price 122,450 and the median sold price 131,000, which may indicate pricing friction where sellers' expectations differ from final sale outcomes and negotiators should plan for concessions or price adjustments.

3. Liquidity appears muted based on a long median days on market of 276, which signals slower sales velocity and suggests sellers should allow more time for marketing or consider more competitive pricing to accelerate transactions.

4. Market context signals are mixed: overall price direction is down (price year-over-year trend: down) while rent momentum is up (rent year-over-year trend: up); with a neutral market temperature and moderate interest rate pressure, this implies balanced conditions where investors may favor rental strategies but should account for moderate financing headwinds.

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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.

Cleveland, OH 44120 Real Estate Market Report

ZIP Code: 44120
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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

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.

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Key Findings

1. 160,500 is the primary indicator of market value in this sample — the median sold price points to transaction-level pricing that market participants are accepting and should be treated as the representative recent sale benchmark for valuation and underwriting. neutral

2. 160,500 combined with a lengthy median days on market of 352 suggests slower sales velocity; this appears consistent with a market that is balanced overall but exhibiting pricing friction that may lengthen hold periods for sellers. moderate

3. There is a pronounced gap between the median listing price of 82,900 and the median sold price of 160,500, which may indicate a divergence between current seller asking expectations and transaction-level outcomes — this gap suggests careful pricing sensitivity for new listings and a need for realistic comparative pricing. down

4. Local rent fundamentals are supportive: the median market rent is 1,200 and rent is trending up, while interest rate pressure is described as moderate; together these signals suggest rental demand and financing conditions should be factored into hold-vs-sell decisions and underwriting assumptions. up

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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.