Real Estate is Hyper-Local:

What NE Ohio Realtors Need to Know Now

If you are relying solely on national news headlines to understand the real estate market, it is time to rethink your strategy. While national statistics paint a broad picture, real estate is, and always has been, hyper-local. What is happening in Orlando, Phoenix, or Seattle might have little to do with what is happening in Greater Cleveland, Northeast Ohio, or even your specific neighborhood.

Hi, I am Mike Ferrante with Century 21 HomeStar and the 21 Mike Team. We serve the Greater Cleveland area, stretching into Akron, Columbus, Lorain, and Youngstown. Every week on our Tuesday training calls, I am joined by Tony Geraci, Broker/Owner of Century 21 HomeStar, and we talk real estate, stats, trends, and actionable strategies for agents. Today, we want to break down how to stay informed and why local data matters most.

Why National Numbers Do Not Tell the Whole Story

National averages show mortgage rates hovering in the mid-6% range and annual home price appreciation sitting around 3%. Media outlets tout a balanced market, with inventory rising and bidding wars subsiding. But what does that mean for a seller in Solon or a buyer in Brunswick?

According to a recent article, Greater Cleveland home prices are up over 10% year-over-year. That is more than three times the national average. Days on market locally have decreased by 8.5%, while nationally, homes are sitting longer. This kind of discrepancy is why Realtors must go beyond headlines.

Inventory: The Stat You Should Watch Closely

If there is one metric to monitor, it is inventory. Inventory drives supply and demand. Here in Northeast Ohio, we are still experiencing a shortage. In fact, active listings have hovered around 2,900. Just 6-7 years ago, that number was closer to 6,000. That means we are operating at about 50% of our previous listing volume. Fewer homes mean more competition and faster sales, even with higher interest rates.

Tony Geraci points out that in our “normal” market, people buy and sell because of life events—not speculation. That is why even when other markets slow, Cleveland remains relatively stable. Fewer investors, more end-users, and historically affordable prices create a uniquely resilient market.

Local Trends Beat National Headlines Every Time

Let us take another stat: market time, or days to sell. In Greater Cleveland, homes are going under contract in about 20 days. A decade ago, it was common to sign one-year listing agreements. Today, if an agent asked for that, most sellers would laugh.

Why the change? It is not just low inventory. Sellers today are more informed. They price their homes correctly. Buyers are motivated. And the agents who understand this fast-paced market are thriving.

Compare that to other markets, like Orlando, where homes can sit for months. Buyers there are overwhelmed by choice. In contrast, Cleveland buyers face competition, not abundance.

What Agents Should Do Right Now

1. Know Your Local Stats – Get familiar with your MLS tools. Track inventory, average days on market, and year-over-year price changes. These are the numbers that build trust with clients.
2. Communicate Market Realities – Your clients are reading national headlines. Be the expert who says, “That is not what we are seeing here.”
3. Use the Data for Marketing – One research session can turn into a video, blog post, Instagram reel, and email newsletter. Repurpose everything.
4. Schedule a Conversation – Talk to local experts. Visit 21mike.com to schedule with me or go to Talk2Tony.net to get on Tony’s calendar.

Final Thoughts

Real estate success in Cleveland requires more than just hustle. It requires hyper-local knowledge. As Tony says, you do not have to be an economist—just someone who pays attention. The resources are at your fingertips. Dig into your MLS. Watch the numbers. And remember: you are the expert. Your market is unique, and that is your biggest asset.

Want more insights like this? Join us every Tuesday and keep following for weekly updates tailored to the Northeast Ohio real estate professional.

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