Cleveland Housing Market

By Veronica Miniello

Home prices increase in Cleveland amid measured inventory growth

Cleveland’s median home price appreciation outpaced the US as supply remained constrained, which contributed to cautious buyer behavior.

Cleveland median home prices increase by 3.6% in February compared to 0.2% nationally

Cleveland ranked sixth among the largest 40 US markets for annual price appreciation on a percentage basis. Despite this increase, Cleveland remained an affordable market for homebuyers. The median price in February was $232,000, ranking last among major US markets.

Inventories climb to their highest February level since 2022 as sellers return to the market

February’s 4,650 active listings represented a 9.8% increase compared to a year ago. This was a slower pace of growth compared to the national benchmark of 14.2%, placing Cleveland in the bottom half of major US markets for inventory growth. Cleveland continued to experience a constrained supply environment, with inventory well below pre-pandemic levels.

February home sales lag year-ago levels as buyers remain rate sensitive

Home sales were down 8.3% from this time last year, marking the third consecutive February decline. With just over 1,300 homes sold in February, Cleveland ranked among the 40 largest US markets with the fewest home sales.


Bar chart showing the percentage change in home sale prices in February compared to the same month the previous year, with Cleveland ranked sixth out of 40 U.S. markets.
Cleveland ranked sixth out of the top 40 US markets for home sale price appreciation in February, based on percentage change.


Cleveland Sale Prices

Home sale prices in Cleveland rose 3.6% in February compared to the same month the prior year, ranking among the top-performing major metros in the U.S. for price growth.

Cleveland home price growth outpaces the US

Cleveland’s home prices increased 3.6% year over year in February, significantly outpacing the national gain of 0.2%. This placed Cleveland sixth among the largest 40 U.S. markets for annual price growth on a percentage basis, alongside other affordable Midwest metros such as Kansas City and Columbus.

Cleveland’s home prices increase by $8,000 in February

On a dollar basis, Cleveland ranked 11th among the top 40 markets, and average home prices rose just over $8,000 in February compared to a national increase of $900. Growth was driven primarily by detached homes, which rose by $13,000, while prices for condos increased modestly, and attached home prices declined.

Cleveland remains one of the most affordable major markets in the country

Despite strong appreciation, Cleveland remained among the most affordable major U.S. markets. The average home sale price reached $232,000 in February, ranking last among the largest 40 US markets, along with other Midwest markets such as Pittsburgh and Detroit. Prices remained roughly 30% lower than in other major Ohio markets, such as Columbus, where the median home price is $333,000.


Comparison table showing Cleveland versus U.S. sale price metrics. Cleveland’s average sale price is $232,078 with 3.6% annual growth, compared with the U.S. average of $375,885 and 0.2% growth. National rankings place Cleveland 6th in growth and 40th in price.
Cleveland continues to outperform the national market on price growth while remaining far more affordable.


Bar chart displaying Cleveland’s average sale prices from 2018 through February 2026. Prices ended the month of February 2026 at $232,078.
Even as growth slows, overall home values remain well above pre‑pandemic levels.


Area chart showing the year-over-year change in home sale prices, with a 3.6% increase in February 2026 compared to the same month in 2025.
Home sale prices in Cleveland rose by 3.6% compared to this time last year in February.


Bar chart showing the year-over-year percent change in median home sale price in February over the past eight years, with Cleveland's median home sale price up 3.6% in February 2026.
Cleveland's home sale price increased by 3.6% in February 2026, marking the third consecutive year with a price increase in February.


Bar chart showing median home sale prices in November, with Cleveland ranked 40th out of 40 US markets.
Cleveland ranked 40th out of the top 40 US markets for home sale price in February, sitting at $232,078.


Bar chart showing the percentage change in home sale prices in February compared to the same month the previous year, with Cleveland ranked sixth out of 40 U.S. markets.
Cleveland ranked sixth out of the top 40 US markets for home sale price appreciation in February, based on percentage change.


Data point boxes showing home sale price trends by home type, including detached, attached, and condos, showing that detached homes experienced a 5.7% increase in home sale prices in February 2026.
Detached homes continue to drive price growth, while attached homes show recent softness and condos post modest gains.


Data point boxes showing home sale price trends by home type, including detached, attached, and condos, showing that detached homes experienced a 5.7% increase in home sale prices in February 2026.
Detached homes continue to drive price growth, while attached homes show recent softness and condos post modest gains.


Cleveland Inventory

Inventory increased 9.8% year over year in February, trailing U.S. inventory growth by a notable margin.

Inventory increases by 400 homes in February, marking a 9.8% increase annually

Inventory growth in Cleveland was muted compared to the national market, where inventories increased by 14.2% in February. Cleveland ranked in the bottom half of major U.S. markets for inventory growth.

Inventories in Cleveland are at the highest February level since 2022

Cleveland’s 4,650 active listings were the highest February total in recent years, although inventories remained well below pre-pandemic levels, suggesting supply-constrained conditions. Cleveland ranked among major markets with the fewest homes for sale, and it had the tightest inventory of Midwestern markets.

Inventory expands across property types, with condos leading the way

Inventory growth occurred across all housing types in Cleveland. Single-family listings rose by 6.2%, townhome listings increased by 17.8%, and condo inventory experienced the sharpest increase at 21.7%. Single-family homes accounted for most listings, while faster growth in townhome and condo inventory suggested improving availability of more affordable property types.


Data point boxes showing Cleveland active listings, annual change, percentage growth, and national rankings compared with U.S. totals, with Cleveland ranking in the bottom half of major U.S. markets.
Cleveland’s active listings are increasing at a slower pace than the national average, placing the market in the middle of national rankings.


Bar chart showing Cleveland active listings rising in recent periods after lower levels in the years following the pandemic.
Cleveland’s active listings have trended upward in the most recent months, signaling gradually loosening supply after historically tight conditions.


Area chart showing annual percentage change in Cleveland active listings over time, with recent growth remaining positive but lower than prior peaks.
While inventory growth has moderated recently, Cleveland remains in positive territory following strong post-pandemic gains.


Bar chart showing year-over-year percentage change in Cleveland active listings for February from 2018 to 2026, highlighting a modest recent increase.
February data shows Cleveland posting a modest year-over-year increase in active listings, consistent with a slow but steady normalization of supply.


Horizontal bar chart comparing February active listings across major U.S. markets, showing Cleveland with fewer listings than most large metropolitan areas.
As of February, Cleveland remains in the lower tier of major U.S. metros for total active listings, reflecting more constrained inventory than many Sun Belt and large coastal markets.


Bar chart showing year-over-year percentage change in February active listings by market, with Cleveland posting a mid-range positive increase.
Over the past year, Cleveland has posted a moderate increase in active listings, trailing faster-growing Midwest and East Coast peers.


Data point boxes showing Cleveland active listings by property type, with detached homes making up the largest share of inventory and attached and condo listings representing smaller but growing segments.
In the most recent period, detached homes continue to account for the majority of active listings in Cleveland, while attached and condo inventory remains comparatively limited but is growing at a faster pace.


Bar charts illustrating annual percentage change in Cleveland active listings by property type, with condos and attached units growing faster than detached homes.
Condo and attached listings are driving the fastest year-over-year inventory growth in Cleveland, outpacing the more gradual increase in detached homes.


Cleveland Home Sales

Cleveland recorded 1,300 home sales in February, an 8.3% year-over-year decline, with roughly 120 fewer closings than last February.

Cleveland sales volume remains below pre-pandemic levels

Cleveland home sales totaled 1,310 in February, down 8.3% from a year earlier, marking the third consecutive February decline in home sales. Subdued sales volume reflected limited inventory growth, continued affordability challenges, and cautious buyer behavior.

Cleveland ranks among the 40 largest US markets with the fewest home sales

Cleveland ranked 34th in terms of home sales in February. Home sales in Cleveland were the softest among major markets in Ohio, roughly 15% below Columbus. In terms of annual percentage change in home sales, 33 of the 40 largest markets in the country experienced declines, with Cleveland ranking 29th.

Home sales performance varies across property types

Sales of townhomes increased in February while single-family and condo sales decreased. Townhome sales increased by 28.6%, and single-family sales decreased by 7.7%. Condo sales experienced the sharpest decline, though, at 16.7%. The pullback in the typically more affordable condo segment suggested that weak demand is broad-based.


Data point boxes showing Cleveland home sales, annual change, and national ranking compared with U.S. totals, placing Cleveland toward the bottom of national rankings.
In February, Cleveland posted lower home sales and a steeper year‑over‑year decline than the national average, placing the market in the middle tier nationally for sales performance.


Bar chart showing Cleveland home sales by year since 2018, illustrating a downward trend in recent periods.
Cleveland’s home sales have trended lower in recent years, with February activity remaining below levels seen since 2018.


Area chart showing Cleveland’s annual percent change in home sales over time, highlighting negative growth in February.
Home sales in Cleveland fell by 8.3% compared to February 2025, marking the second consecutive month of year-over-year sales declines.


Bar chart showing Cleveland’s February home sales percentage change by year, with recent years reflecting a decline compared with earlier periods.
Cleveland's home sales declined by 8.3% in February, continuing a trend of negative to muted home sales in recent years.


Bar chart showing February home sales by market, with Cleveland ranked 34th out of 40 US markets.
Cleveland ranked 34th out of the top 40 US markets for home sales price in February, sitting at 1,310.


Bar chart showing year‑over‑year percentage change in February home sales by market compared to the same month the previous year, with Cleveland ranked 29th out of 40 U.S. markets.
Cleveland ranked 29th out of the top 40 US markets based on the percentage change in home sales in February.


Data point boxes showing Cleveland home sales, annual growth rates, and net change for detached homes, attached homes, and condos, with declines driven by detached homes.
Recent sales declines in Cleveland were driven primarily by detached homes and condos, while attached homes showed modest year‑over‑year growth.


Bar chart showing annual percentage change in Cleveland home sales by property type, with growth in attached homes and declines in detached homes and condos.
Year over year, attached home sales increased in Cleveland, while detached homes and condos both recorded declines in February.


For questions and commentary about this report:

Veronica Miniello, Associate Director of Market Analytics at CoStar and Homes.com, based in Cleveland, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Veronica Miniello

Associate Director of Market Analytics

Homes.com

vminiello@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Cleveland during February 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.

Writer
Veronica Miniello

Veronica Miniello is an Associate Director of Market Analytics for CoStar Group. Based in Cleveland, Veronica covers markets in Ohio, western Pennsylvania, and upstate New York, providing insights into market and property sector performance. She holds a bachelor’s degree in economics from New York University and a master's degree from George Washington University.

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