Cleveland, OH 44120 Real Estate Market Report

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

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Executive Overview

The current market in Cleveland, OH (ZIP: 44120) reflects a median sold price of $105,000, indicating a softening trend in recent transactions. The neighborhood has decreased 8% since 2022, suggesting a shift in buyer sentiment and market dynamics. With a median listing price of $115,000, there is a notable gap between seller expectations and actual sales, which may indicate pricing friction in the current market environment.

Transaction activity appears to be moderate, with 205 median days on market, reflecting slower sales velocity. The inventory context shows elevated levels, with excess supply relative to sales activity, which may further contribute to the extended time properties remain unsold. Despite these challenges, the median market rent stands at $1,296, indicating ongoing demand for rental properties in the area, suggesting that while sales may be slowing, rental demand remains resilient in an otherwise stable local economy.

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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 the Cleveland OH market at 6.09% are 0.78% lower than the 6.87% average seen one year ago in February 2025, indicating a favorable shift for new financing.

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 $105,000 highlights a decreasing trend in property values.

2. With a median days on market of 205, the market is experiencing slower sales velocity than in previous periods.

3. The median listing price of $115,000 suggests a gap between seller expectations and market reality, indicating potential pricing friction.

4. The market temperature is currently neutral, reflecting balanced conditions despite elevated inventory levels.

5. The median market rent of $1,296 shows a growing demand for rental properties, contrasting with the sales market's performance.

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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.