Cleveland Real Estate News

Cleveland Housing Market Update

Across Ohio, the number of homes sold in April fell from the same month last year, but average home prices continued to rise, according to Ohio Realtors.

The number of home sales in April 2023 were 10,094 units, down 20.9% from the previous year’s 12,763 units. April’s Ohio-wide average sales price reached $268,257, up 4% from the April 2022 level of $258,000.

“Housing activity in Ohio continues to underperform year-over-year sales as we continue to face inventory shortages in a higher interest rate environment,” said Ralph Mantika, president of Ohio Realtors. “Nevertheless, the continued rise in average prices clearly shows that consumers understand that housing is a smart long-term investment. “

Experienced Cleveland real estate agents are able to help home buyers navigate today’s real estate market and achieve their goals. Buyers should always rely on the expertise of a REALTOR.

Twelve of the markets saw an increase in average price in the same month compared to April 2022. In addition, he saw only one local market increase sales activity compared to the previous year.

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