Living in Cleveland, OH
Cleveland, OH is a dynamic city located near Lake Erie, celebrated for its cultural diversity and thriving urban life. With numerous recreational parks, a rich arts scene, and a variety of neighborhoods, Cleveland offers residents a vibrant lifestyle. The city's economy remains strong, making it an attractive place for families and young professionals to call home.
Current Market Conditions in Cleveland, OH
The Cleveland real estate market has seen a steady increase in buyer interest over the past year, driven by low interest rates and increasing job opportunities in the area. Inventory levels remain low, which has created competitive conditions for buyers, particularly in sought-after neighborhoods. Overall, home prices have experienced a gradual increase, reflecting the city's growing desirability.
Currently, Cleveland's housing market is gaining traction with more homes being listed and sold due to economic recovery and rising purchasing power among residents. Listings are moving quickly, especially for entry-level homes, indicating a rising demand for affordable housing options within the city.
Home Value Estimator For Cleveland, OH
There are currently 191,521 real estate properties
in Cleveland, OH,
with a median automated valuation model (AVM) price
of $152,000.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Cleveland, OH, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Cleveland, OH,
is $196,048.00, with the most expensive house
in Cleveland, OH, topping out
at $92,548,400.00 and the cheapest home
in Cleveland, OH,
clocking in at $10,007.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Cleveland, OH!
Rent Prices
In Cleveland, OH
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Cleveland, OH, is on
a rollercoaster ride. The
average rent price in Cleveland, OH,
is $1,220.00. Indeed, when looking to rent in
Cleveland, OH, you can expect to pay as little
as $500.00 or as much
as $3,500.00,
with the average rent median estimated to
be $1,160.00. The good news is that finding
an affordable and desirable property to rent in Cleveland, OH
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
Learn more on Foreclosure homes
