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Will the Greater Cleveland housing market become a buyers market in 2023?

CLEVELAND, Ohio – After volatile year that that saw sharp spikes in home prices, the Greater Cleveland housing market is closing out 2022 about where it started, but there are plenty of uncertainties heading into 2023 amid both higher interest rates and a possible increase in choices for buyers.

The median price of single-family homes in Cuyahoga County was $157,000 in October and November, found in analyzing transaction data. That’s about the same as during the fourth quarter last year ($159,676) and well above the fourth-quarter pricing in 2020 ($145,000) and 2019 ($117,500).