Cleveland Housing Stats

Source:oterohomes.com

The Cleveland housing market is rebounding. From 2006 to 2013 home values dropped 30%. Four years later, all indicators point to growing income, a solid job market, and increasing home values in Ohio. The Ohio Department of Job and Family Services states unemployment is down to 5.7%, half of what it was in 2010. Average prices for Cleveland real estate is $47 per square foot, an increase of more than 3% over the last few years. According to the Ohio Association of Realtors, the volume of home sales was 4.2% higher. Currently the median family income is $30,286 with the median home price at $55,200. The good news is home values are almost three times higher than the price overall, with a median of $115,600. While the Cleveland market has struggled a bit, downtown is picking up and there is definitely something positive happening in the suburbs. As we near the end of 2017, the average home sale price in three of the hottest areas of Cleveland includes:

  • Downtown
  • Average listing $496,500
  • University Circle
  • Average listing around $378,000
  • Bay Village/Westlake
  • Average listing around $312,959

If you would like to try out our services and invest in Cleveland , please email at info@ayodhyahomeforall.com

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