Cleveland Heights, OH
Housing Market
Cleveland Heights' housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into Cleveland Heights' supply and demand trends. Our report equips you with the information you require to make well-informed decisions.
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Buy or SellCleveland Heights Housing Market Overview
Cleveland Heights real estate is moderately competitive at present, though signs point to rising demand. Median home prices have risen sharply by 31.1% YoY, to reach $239,000. Homes in Cleveland Heights spend an average of 38 days on the market before going under contract. In addition, 52 homes were sold this month, an 18.2% increase from the previous year.
The Cleveland Heights real estate market offers a mix of historic homes and charming condos in beautiful tree-lined neighborhoods. Home values have climbed steadily due to strong demand, limited supply, and proximity to Cleveland's job centers. The city typically draws buyers who seek convenience and affordability.
The Cleveland Heights real estate market offers a mix of historic homes and charming condos in beautiful tree-lined neighborhoods. Home values have climbed steadily due to strong demand, limited supply, and proximity to Cleveland's job centers. The city typically draws buyers who seek convenience and affordability.
Median Sale Price
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Cleveland Heights Housing Supply
Cleveland Heights attracts both homebuyers and investors due to its affordability and proximity to Cleveland. There are 172 houses for sale in Cleveland Heights, Ohio, at present, up 65.4% from last year. This includes 96 new listings. As a result, buyers now have more inventory options to choose from. Still, with just 3.3 months of supply, competition remains stiff.
Housing supply in Cleveland Heights shifts with the seasons. More homes enter the market in spring and summer, as both buyers and sellers aim to close before the school year. Cleveland Heights home prices remain lower than many nearby suburbs, which adds to the city's appeal. Even so, buyers should act fast. Before making an offer, check if there are any areas of negotiation.
Housing supply in Cleveland Heights shifts with the seasons. More homes enter the market in spring and summer, as both buyers and sellers aim to close before the school year. Cleveland Heights home prices remain lower than many nearby suburbs, which adds to the city's appeal. Even so, buyers should act fast. Before making an offer, check if there are any areas of negotiation.
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Cleveland Heights Housing Demand
Cleveland Heights has seen a spike in market competition. Currently, 32.7% of homes sell above the list price, while 26.7% homes see price drops. This suggests that some sellers are open to adjust their prices to meet market conditions. The average sale-to-list price ratio is 96.7%, which means that most homes sell for slightly below asking. Overall, it's an in-demand market, where buyers are starting to gain more negotiating power.
Homeowners who price their property correctly from the start can avoid any future price cuts. Sellers who want a quick deal can offer concessions to attract buyers. Listing on the Ohio MLS can help you reach more potential buyers. When demand runs high and pricing aligns with the market, sellers are likely to receive multiple offers. On the other hand, buyers can focus on homes that have stayed on the market longer, or have seen price drops.
Homeowners who price their property correctly from the start can avoid any future price cuts. Sellers who want a quick deal can offer concessions to attract buyers. Listing on the Ohio MLS can help you reach more potential buyers. When demand runs high and pricing aligns with the market, sellers are likely to receive multiple offers. On the other hand, buyers can focus on homes that have stayed on the market longer, or have seen price drops.
Homes Sold Above List Price
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Strong
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Balanced
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Cleveland Heights Housing Market: When to Buy or Sell?
The Cleveland Heights market alternates between favoring buyers and sellers, based on supply and demand trends. Seasonal changes often bring new opportunities---more inventory can benefit buyers, while tighter supply gives sellers the upper hand.
Similar trends can be observed across the Ohio housing market and US housing market. When supply is low, sellers see faster sales and stronger offers. When supply grows, buyers gain more negotiating power and flexibility. Understanding these trends will help you time your purchase or sale for the best possible outcome.
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Frequently Asked Questions
How have the home prices in Cleveland Heights changed over the past year?
Home prices in Cleveland Heights have gone up by 31.1% over the past year, with the median price now at $239,000. If you want to know where you stand in this competitive market, our free home value estimator can help you determine your property's fair market value.
What are Cleveland Heights, Ohio, real estate predictions for 2025?
Home prices in Cleveland Heights are expected to stay stable through 2025, with possible modest gains. Buyer demand should remain steady, though higher mortgage rates may make affordability a challenge for some.
What's the average home price in Cleveland Heights?
The average home price in Cleveland Heights depends on the property's size, type, and location. Large single-family homes cost around $300,000, while condos are cheaper. If you're looking to buy, you can find Cleveland Heights homes for sale that fit your budget.
Is this a good time to buy a home in Cleveland Heights, OH?
Look at current market trends in Cleveland Heights to see if it favors buyers or sellers. If demand is high and inventory is low, sellers may have the advantage. But if mortgage rates stay steady, demand drops, and more homes are available, it could be a good time to buy a home in Cleveland Heights.
Where can I check Cleveland Heights housing market trends?
Cleveland Heights' housing market is active year-round, with demand and competition fluctuating based on seasonal trends. So, check the latest Cleveland Heights housing market trends to find the right time to buy or sell.
When will the Cleveland Heights housing market crash?
As per Cleveland Heights housing market forecasts, it's very unlikely that the market will crash. However, home prices and demand may increase during the summer, with sustained growth projected through 2025.
How to buy a home in Cleveland Heights?
Start with a clear budget and mortgage pre-approval. Buyers should then search for a house for sale in Cleveland Heights, submit offers, secure loans, and complete the closing process.
How can I list my home for sale in Cleveland Heights?
You can make Cleveland Heights real estate listings with a Flat Fee MLS Ohio service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location.
What is the average mortgage rate for buyers in Cleveland Heights?
The state-wide average mortgage rate for buyers fluctuates between 6.8% and 7%. However, it depends on the market and the borrower's credit score. Always check current rates with lenders.
What is the cost of living in Cleveland Heights?
Cleveland Heights has a cost of living 8% below the national average, and about the same as Ohio's cost of living. While healthcare costs 5% less than the US median, other utilities can be up to 3% more expensive than national averages.
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