Cleveland Real Estate Market Update: Trends & Forecast for 2025-2026

As a full-time real estate agent with Howard Hanna in Cleveland, Ohio, I'm here to provide you with a detailed look at our dynamic housing market. Understanding the current trends and future forecasts for Cleveland, including insights for both the East and West Sides, is crucial for both buyers and sellers.

Current State of the Cleveland Housing Market (2025)

The Cleveland housing market in 2025 is characterized by steady growth, increasing inventory, and evolving dynamics influenced by interest rates. Overall, Cleveland remains an attractive market due to its relative affordability compared to national averages.

Average Home Values and Median Sale Prices

• Average Home Value: As of May/June 2025, the average home value in Cleveland, OH, is around $113,522 to $116,771, showing a year-over-year increase of approximately 1.9% to 5%.

• Median Sale Price: The median sale price for homes in Cleveland was approximately $108,333 (April 2025) to $173,756 (June 2025). This variation can be attributed to different reporting methodologies and specific data points. Notably, some reports indicate an 8.8% year-over-year increase in the median sold price as of June 2025.

Inventory Levels

Cleveland's housing inventory has seen an increase, offering more choices for buyers compared to the previous year.

• Listings were up by 37.3% in Cuyahoga, Portage, and Summit Counties as of May 2025.

• Cuyahoga County experienced a 2.9% increase in inventory as of June 2025.

Time on Market

Homes in Cleveland are generally taking slightly longer to sell compared to recent years, indicating a less competitive market than the peak frenzy.

• Homes are going pending in around 11 days (Zillow, May 2025 data).

• Other reports indicate a median of 41 days on the market in June 2025, and 46 days in January 2025 (up from 44 days in January 2024).

• In Cuyahoga County, time on market increased by 12.5% as of June 2025, suggesting a modest slowdown.

Interest Rate Impact

Mortgage rates continue to play a significant role in buyer decisions.

• Rates are projected to remain in the 6-7% range through 2025 and 2026, which is higher than pre-pandemic lows but still manageable for many.

• Higher interest rates, combined with rising home prices, have led to decreased affordability, requiring buyers to consider creative budgeting and loan solutions.

East Side vs. West Side Cleveland Market Trends

While comprehensive, granular data for every metric distinguishing the East and West Sides broadly is not always readily available, we can observe trends through key neighborhoods and overall market sentiment.

East Side Cleveland

The East Side of Cleveland, including areas like Shaker Heights, Ohio City (partially considered East Side for some analyses), Tremont, and Collinwood, continues to see steady activity.

• Ohio City: Median Price: $166,700 (up 7.0% YoY, May 2025). Trendy and walkable, appealing to young buyers.

• Tremont: Median Price: $349,896 (down 2% YoY, May 2025). Known for historic charm.

• Collinwood: Median Price: $133,522 (up 5% YoY, May 2025). Affordable and artsy.

• https://www.shakerheightsoh.gov/https://www.shakerheightsoh.gov/ Median Price: $334,961 (up 6.4% YoY, May 2025). Family-friendly with good schools.

• Glenville: Median listing home price of $121K.

• Hough: Median listing home price of $142.5K.

There are also significant apartment developments underway on Cleveland's East Side, with hundreds of new units potentially added by 2026 and 2027, which could impact the rental market and overall housing demand.

West Side Cleveland

The West Side, encompassing neighborhoods like Old Brooklyn, Edgewater and parts of Ohio City and Tremont, offers a mix of affordability and strong community vibes.

• Old Brooklyn: Median listing home price of $160K.

• Edgewater: Median listing home price of $599K, making it one of the more expensive neighborhoods.

• Kamm's Corner: Median listing home price of $234K.

• Bellaire - Puritas: Median listing home price of $139.9K.

Generally, both sides of Cleveland are experiencing similar market forces, with slight variations in median prices and specific neighborhood dynamics. Affordability remains a key draw across the city.

Insights for Buyers and Sellers

For Buyers

• More Choices, Less Urgency: With increased inventory and slightly longer time on market, buyers have more options and less pressure to make quick decisions. This allows for more thoughtful consideration, thorough inspections, and better negotiation opportunities, especially for homes on the market for 30+ days.

• Affordability Challenges Remain: Despite increased inventory, rising prices and sustained interest rates mean affordability can still be a hurdle. Creative financing and budgeting will be essential.

• Explore Diverse Neighborhoods: Cleveland offers a wide range of neighborhoods with varying price points and characteristics. Consider areas like Collinwood for affordability, Ohio City for vibrancy, or Shaker Heights for family-friendliness.

For Sellers

• Price Smart: While prices are still rising in many areas, a more balanced market means overpricing can lead to longer listing times. Set realistic and competitive prices based on current market data.

• Presentation Matters: With more homes on the market, curb appeal and home staging become even more critical to stand out and attract serious buyers.

• Leverage Local Expertise: Work closely with your real estate agent to navigate the shifting dynamics. Their insights on specific neighborhoods and market conditions can help you achieve your desired sale price.

Forecast for 2025 through 2026

The Cleveland real estate market is expected to remain steady with moderate growth, rather than the rapid appreciation seen in previous years.

• Continued Price Appreciation: Home prices are forecasted to continue their upward trend, albeit at a more moderate pace (around 3-5% nationally, with Cleveland potentially seeing higher local growth in certain areas).

• Balanced Market: The market is gradually shifting towards a more balanced environment, where supply and demand are more aligned. This suggests less intense competition for buyers and more realistic expectations for sellers. Some predictions suggest a balanced market by winter 2025.

• Interest Rates: Mortgage rates are likely to hover in the 6-7% range, continuing to influence buyer demand and affordability.

• New Construction: The addition of new housing units, particularly multi-family developments on the East Side, will contribute to overall inventory and help meet demand.

• Economic Drivers: Cleveland's ongoing economic revitalization, job growth in sectors like healthcare and technology, and increasing appeal due to affordability will continue to bolster the housing market.

  
  

The Cleveland real estate market in 2025 and 2026 presents opportunities for both buyers and sellers. Staying informed about local trends, understanding the impact of broader economic factors, and working with a knowledgeable local agent like myself will be key to making successful real estate decisions.

Disclaimer: This blog post provides a general overview and forecast based on available data and expert opinions as of July 2025. Real estate markets are subject to change, and specific outcomes may vary based on individual property characteristics, neighborhood conditions, and broader economic shifts. Always consult with a qualified real estate professional for personalized advice.

Feel free to contact me at paul@clappilyhome.com or visit https://www.clappilyhome.com for more personalized insights and assistance with your real estate needs in Cleveland, Ohio.