Cleveland home prices keep climbing
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Illustration: Sarah Grillo/Axios
Buying a house in Cleveland isn't as cheap as it used to be.
Why it matters: Cleveland remains one of the country's most affordable big housing markets, but years of steady price increases are chipping away at that advantage.
State of play: The Cleveland area's median home sale price hit $279,000 in July, up 4.1% from a year ago, according to Homes.com's latest housing market report.
- That's the highest monthly figure for Cleveland in the site's data going back to 2018.
By the numbers: Cleveland had the seventh-fastest price growth among the nation's 40 largest housing markets.
- Cleveland was still a relative bargain, with prices 30% below the national median of $400,000.
The big picture: Cleveland has posted some of the country's fastest-rising home prices in recent years, though the pace has slowed.
- Prices rose 12.5% year over year back in July 2025 and 8.1% this April, when Cleveland led the nation's biggest housing markets.
Between the lines: Cleveland still doesn't have nearly as many homes for sale as it did before the pandemic.
- There were about 6,600 homes on the market in July — roughly 2,700 fewer than in July 2019, according to Homes.com.
Yes, but: The market is loosening up a bit. Inventory reached its highest level in 2021 in July, and sales rose 4.6% from last year.
The bottom line: Cleveland is still cheap by big-city standards. It's just getting a little less cheap every year.
