📉 October 2025 Cleveland Real Estate Market Update 🏡

Interest Rates Dip Again—But Buyer Activity Remains Sluggish

Hey everyone, Mike Ferrante here with Century 21 HomeStar and the 21 Mike Team! We help clients all across Greater Cleveland, Northeast Ohio, and even down into Central Ohio. If you need real estate guidance anywhere in the state, visit 21Mike.com and click that top button to schedule an appointment.

Let us dive into the October update, where we take a 5-year look back at the data and analyze where the market might be heading.

📊 Graph #1: Active Listings vs. Number of Sales

Here are the key takeaways:

📈 Inventory rose slightly: We had 2,830 active listings in September 2025—up from 2,715 in August, and up significantly from 2,466 listings in September 2024.
🔁 But compared to September 2020 (2,862 listings), the market has barely moved. We are still in a long-term inventory shortage.
📉 Sales fell: Only 1,274 transactions closed in September, down from 1,324 in August. This is still higher than September 2024 (1,146 sales), but significantly lower than 2020’s boom year (1,657 sales).

💡 The story? More listings, but fewer buyers pulling the trigger—suggesting a sluggish fall season.

In this graph:

Green line = Active Listings
Blue line = Number of Sales

💵 Graph #2: Median Sale Price vs. Days to Sell

Let us break it down:

💰 Prices dipped slightly: The median sale price in September 2025 was $230,000, down from $244,000 in August. This minor dip is typical for the seasonal transition into fall.
🚀 Long-term value trend is strong: In September 2020, the median price was $165,000. That’s nearly 40% growth in five years.
⌛ Market time increased slightly: It took 23 days to sell a home in September, up from 19 days in August, but still close to 2020 levels (22 days).

📌 Even with rising market times and slight price drops, homes are still selling quickly by historical standards.

In this graph:

Green line = Median Sale Price
Blue line = Days to Sell (Market Speed)

🧭 What Does It All Mean?

Even as interest rates dip, we are not seeing a major uptick in buyer activity. Here is why:

🏘️ Inventory is still too low to meet demand, despite small month-over-month increases.
💵 Prices remain historically high, which may be keeping some buyers on the sidelines.
📉 Sales activity is sluggish, especially for the fall season.
🔮 Outlook: Do not expect a huge boost in activity heading into winter. We will likely stay in a seller’s market, even though the pace has slowed.

✅ What Should You Do?

If you are a seller, now is still a great time to list—prices are strong, and market time is still fast.
If you are a buyer, keep your eyes on interest rates. A small dip could mean big savings, especially if the right property hits the market.

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