Cleveland Housing Market

Cleveland homebuyers had more options in July than they did a year ago, helping sales rise faster than the national pace. But the market remained tight by historical standards, meaning buyers still faced competition and sellers continued to see prices move higher.

Cleveland home sales rose 4.6% year over year in July, reaching the highest level for the month in four years. Cleveland ranked 11th among the 40 largest U.S. housing markets for sales growth, performing in line with other Midwest markets such as Columbus and Kansas City. Homes in Cleveland sold in about 45 days, suggesting that demand remained steady even as supply improved.

Sales increased across housing types, led by condos and townhomes, indicating sustained demand for lower-cost options as home prices climbed. Cleveland’s fastest-growing counties, including Lorain and Medina, posted particularly strong gains, with sales growth in suburbs such as Avon, Elyria, Brunswick, and North Ridgeville well above the market benchmark.

Cleveland’s housing inventory rose 4.3% year over year, reaching its highest level for the month since 2021. Despite this increase, homes for sale in Cleveland remained well below pre-pandemic levels, ranking near the bottom among major U.S. markets for inventory.

While buyers had more homes to choose from than a year ago, the increase in listings lagged behind that of Midwest peers such as Columbus, Detroit, and Pittsburgh. Single-family homes experienced modest growth at 2.8% while condos and townhomes posted a larger percentage increase.

Cleveland inventory remained limited, with 3.2 months of supply in July, helping sellers and homebuilders hold firm on prices. Meanwhile, the national market recorded 4.7 months of supply in July, indicating a more balanced market with stable pricing.

View the latest homes for sale in Cleveland.

Cleveland’s median home sale price rose 4.1% in July from a year ago, compared with a 2.6% increase nationally. The Midwest was well represented among the top 10 U.S. markets for price growth, which included Pittsburgh, Detroit, Cleveland, and Saint Louis.

Even with recent gains, Cleveland recorded one of the lowest median sale prices among major U.S. markets, which continued to attract buyers even as borrowing costs remained elevated. Homes typically sold for 98.7% of their asking price, indicating that sellers continued to retain negotiating power.

The median home sale price in Cleveland increased by 4.1% compared to the same time last year, while the national median price rose by 2.6%.

Cleveland median home prices rose by $11,000 year over year on a nominal basis in July to $279,000. Meanwhile, the national median home price increased by $10,000 to $400,000.

Cleveland was the 39th highest-priced housing market among the top 40 largest markets last month. The Cleveland median home price of $279,000 was 30.3% below the national median home price. Cleveland's median home price in July is the highest observed price for any month in the market.

The median price of Cleveland single-family homes rose by $13,300 over the past year to $288,300, while the median townhome price grew by 3.9%, and the median condo price rose by 4.9%.

The number of homes for sale in Cleveland increased by 4.3% in July compared to the same time last year, while national homes for sale rose by 4.4%.

Cleveland homes for sale rose by 272 year over year in July to 6,568 homes for sale. Cleveland ranked 21st, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in July.

Cleveland homes for sale were below their pre-pandemic levels in the month of July. Cleveland homes for sale were 29.1% below the July 2019 total of 9,259.

Cleveland single-family homes for sale grew by 2.8% to 5,583 in July. In comparison, townhomes for sale rose by 12.1% to 260, and condos for sale increased by 14.7% to 725.

The number of home sales in Cleveland increased by 4.6% in July compared to the same time last year, while national home sales rose by 2.9%.

Cleveland home sales increased by 115 year over year on a nominal basis in July to 2,619. For context, 2,504 sales closed in Cleveland in July 2025.

Cleveland ranked 11th for the annual change in home sales out of the top 40 U.S. markets in July on a percentage basis. This year's July increase of 4.6% compares to the 4% year over year increase in July 2025.

Cleveland single-family sales increased by 3.5% in July to 2,308. In comparison, townhome sales rose by 21.7% to 84, and condo sales rose by 10.2% to 227.

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 July 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.

Definition of Days on Market

The median number of days from initial listing to closing of properties whose closing occurred during the month. This data includes detached, attached, and condominium homes. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Months of Supply (MOS)

Months of Supply (MOS) is equal to active listings divided by homes sold in a given 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 Sale to List Price Ratio

The sale-to-list price ratio is the ratio of the sale (closing) price to the original list price, whose closing occurred 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.