🏡 November 2025 Cleveland Real Estate Market Update

📉 Home Prices Dip to Lowest Level Since Spring—Should You Be Worried?

Hi everyone! Mike Ferrante here with Century 21 HomeStar and the 21 Mike Team. We proudly serve Greater Cleveland, Northeast Ohio, and Central Ohio—including Columbus. If you are buying, selling, or investing anywhere in Ohio, head over to 21Mike.com and click the button at the top to schedule your appointment with me, or a member of our team.

And if you watch on YouTube, don’t forget to smash that subscribe button so you never miss a market update. Let’s get into the numbers and break down what’s happening with Cleveland real estate.

📊 Graph #1: Active Listings vs. Sales (2020–2025)

🟢 Green Line = Active Residential Listings
🔵 Blue Line = Number of Sales

Here’s what the data shows:

In October 2025, we had 2,894 active listings, up from 2,784 in September, and up significantly from 2,538 a year ago in October 2024.
That is the highest October inventory since 2020, when we had 2,771 listings.
📈 Inventory is creeping up, which is unusual this time of year when we typically see a seasonal drop.

Now, let’s talk sales volume:

Only 1,221 homes sold in October—down from 1,277 in September, and down 30% from five years ago (1,745 in October 2020).
🔻 Sluggish sales activity is the real story. Even though interest rates are coming down, buyers are still hesitant.

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

🟢 Green Line = Median Sale Price
🔵 Blue Line = Days to Sell (DOM)

Let’s take a closer look:

Median home price dipped to $225,000 in October, down from $230,000 in September.
- A year ago? $235,000 in October 2024
- Five years ago? Just $167,000 in October 2020
  📉 This is the lowest pricing we’ve seen since April, but likely just a seasonal dip.
Days on Market rose slightly to 27 days, up from 23 days in September.
- Last year? 20 days in October 2024
- In October 2020? 25 days
  📈 Even with slowing demand, homes are still selling in under a month—a clear sign that it is still a seller’s market.

🔮 What Does It All Mean?

Despite a dip in home prices and rising market time, Cleveland remains one of the few major U.S. markets still favoring sellers. Here is why:

🏘️ Inventory is still low compared to historic norms, even though it is rising slowly.
📉 Interest rates have dipped to around 6.25%, nearly half a point lower than this time last year.
🧊 We are entering the seasonal slowdown, which usually lasts through winter.
📊 Sales are sluggish, but not collapsing. Demand is soft, but not gone.

➡️ Bottom Line: This does not appear to be a crash—it looks more like the typical seasonal cooling of prices and activity. Unless we see a major increase in inventory or further rate shocks, expect prices to rebound in spring.

✅ Need Help Navigating This Market?

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📲 Visit 21Mike.com to schedule an appointment with us.
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