Is Cleveland Heights, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Cleveland Heights has remained a Seller's Market.
Key Takeaway
Cleveland Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cleveland Heights, OH
How much do homes in Cleveland Heights, OH cost?
Median Sold Price
$199,985
$107/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cleveland Heights have sold for 2% more than they did a year ago.
Summary: The median home sold price in Cleveland Heights was $199,985 in May 2024, up 2% from last year, and the median price per square foot was $107.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $95K | $96.2K | +1.3% |
| 2 Bedrooms | $144.9K | $145K | 0.0% |
| 3 Bedrooms | $165K | $170.7K | +3.5% |
| 4 Bedrooms | $215K | $221.9K | +3.2% |
| 5+ Bedrooms | $292.1K | $310K | +6.1% |
Summary: Cleveland Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.3%, 2 bedroom homes did not change, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 6.1%.
Median Sold Price Compared To Nearby Cities
| University Heights | $232K | $268.5K | +15.8% |
| East Cleveland | $50K | $55.7K | +11.5% |
| Shaker Heights | $284.5K | $305K | +7.2% |
| South Euclid | $162.3K | $168.4K | +3.7% |
| Cleveland Heights | $196K | $199.9K | +2.0% |
Housing Supply in Cleveland Heights, OH
How many homes are available in Cleveland Heights, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 218 | 240 | +10.1% |
Summary: The Cleveland Heights real estate market had 240 homes for sale in May 2024, a 10.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 15 | 14 | -6.7% |
| 3 Bedrooms | 97 | 99 | +2.1% |
| 4 Bedrooms | 66 | 74 | +12.1% |
| 5+ Bedrooms | 39 | 51 | +30.8% |
Summary: The Cleveland Heights housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes increased by 30.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 51 | 60 | +17.6% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cleveland Heights, you could pay more than the asking price. 48.3% of homes here sold above asking price last month.
Summary: A total of 60 homes were sold or pending in Cleveland Heights in May 2024, up by 17.6% month-over-month. Of the 60 sold homes, 33% were sold under asking, 18% were sold at asking, and 48% were sold over asking.
Days on Market for Cleveland Heights, OH
How long does it take to sell a home in Cleveland Heights, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 35 Days | 41 Days | +16.3% |
Summary: Homes in Cleveland Heights had an average of 41 days on market in May 2024, up by 16.3% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cleveland Heights are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 60 homes were sold in Cleveland Heights; 47% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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