Cleveland metro housing market ranks high for buyers

Cleveland metro housing market ranks high for buyers

just rated the Cleveland metro area as the third best market in the country for buyers, meaning a lot of houses that stay on the market a long time and big price reductions.

That's true of some cities in our area.

"We've got some great listings on our office that are really great houses in really quaint neighborhoods, and they are super affordable," said Chris Merry of Howard Hanna Real Estate's Cleveland office.  

Euclid, North Olmsted, Garfield Heights, Elyria and Rocky River ranked in the top five buyers markets, according to Zillow.  

But in many neighborhoods like Lakewood, Medina, North Ridgeville, Lorain and Cleveland, houses are selling in one day. Inventory is extremely low.

"We've been riding a high for about 24 to 36 months where we have buyers that are entering the market. They are buying quickly. They are enthusiastic. They are informed. Our biggest issue is that we don't have a lot of inventory to show them which has helped to drive prices up," added Merry.

In fact, 19 Action News profiled Ann and Christopher Garland when they put their Ohio City home on the market in February. Just days after our story aired, the Garland's house was sold.

"It tells those people in those key neighborhoods like Lakewood, Independence, North Ridgeville, Medina, that if they are thinking about making a change now is the time to do it," said Merry.

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