"Cleveland's market defied the national slowdown in February, with inventory jumping 17.1% year over year, yet median list prices still climbed 10.2%."
"The median list price hit $148,725 in February, up 10.2% from a year ago, while the national median actually dropped 2.1% to $403,450."
"Active listings reached 759 in February, up 17.1% year over year, more than double the national growth rate of 7.9%."
"The share of listings with a price reduction rose to 14.9%, up 3 percentage points year over year, indicating that overpriced homes are getting corrected."
Cleveland's housing market is thriving, with a 17.1% increase in inventory and a 10.2% rise in median list prices year over year. The median list price reached $148,725, significantly lower than the national median. Active listings rose to 759, indicating more options for buyers. Homes are selling faster, with a median of 63 days on the market. Despite the increase in listings, the market remains competitive, although sellers should be cautious of price reductions on listings.
Read at SFGATE
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