Cleveland, OH home prices and housing market

Cleveland sellers are listing about fifteen thousand dollars above what homes are worth, and one in five is cutting. That gap tells you more about your sale than any headline, so here is what it means. The typical Cleveland home is worth about one hundred sixty-two thousand dollars, up about 2 percent over the past year, which is steady growth, not a runaway market. Now look at what sellers are asking. The median list price is around one hundred seventy-seven thousand dollars, roughly ten percent above what homes are actually valued at. And sellers keep testing that ceiling, with about 860 new listings hitting the market on top of roughly one thousand six hundred already for sale. The result shows up in timing, with the typical home taking about 46 days to sell. But here is the turn. Even with about 21 percent of listings cutting their price, values are still climbing. This is not a weak market. It is a market that punishes ambition. If you price near what your home is worth, you can sell in a reasonable time. If you price at the top, plan on waiting and then cutting. To see where your home sits in this market, get a free home value estimate at Home Value Pros dot com.