The housing market in Cleveland continues to see strong price appreciation, with values up 16.7% compared to last year. Home prices have increased 12.4% in the past month alone. With 5.0 months of supply, Cleveland's inventory levels remain relatively tight. Homes are now taking an average of 75 days to sell, significantly longer than the 48 days typical for this market. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Cleveland market with the affordability index at 1731.1. Looking ahead, the Cleveland market is expected to maintain its current trajectory with relatively stable conditions.
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