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📬 In today’s edition:

• 🏢 Sherwin-Williams’ next phase is taking shape

• 📈 Cleveland inventory jumped 21.5% in a year

• 🔑 Flat rents mean filling units is the whole game

📰 Cleveland Market Minute

Demo signals next phase of Sherwin-Williams’ HQ

The basic concept for the low-rise, mixed-use development along West St. Clair Avenue and along West 6th Street would realize Sherwin-Williams’ longstanding vision for these next phases. The next phases also include plans for a second headquarters tower.

According to two sources familiar with the development, and who spoke with NEOtrans on the condition of anonymity, two separate mixed-use structures would be developed by Welty Development, a real estate firm based in suburban Akron.

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925 Euclid’s owner, lender and receiver put foreclosure case on hold

A foreclosure case involving Downtown Cleveland’s second-largest building by floor area could conclude by the end of the year if there are no more hiccups until then.

That possibility resulted from a U.S. District Court judge granting the current owner time to close on financing to rejuvenate the building, recently called The Centennial, 925 Euclid Ave.

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Historic downtown building may be demolished

A 19th-century building that’s not been treated very well for the past six decades may soon get the roughest treatment of all demolition. That’s according to a permit application submitted today to the city’s Building Department.

Proposed for demolition is the five-story Gilman Building, a commercial structure located at 1350 W. 3rd St. in Downtown Cleveland’s Warehouse District. Cost of demolishing the 18,290-square-foot structure is estimated at $282,000, according to the application.

🔗 Read More

🏠 Just Sold Spotlight

New-Construction Edgewater Townhome with Lake Views, Private Rooftop Lounge & 2-Car Garage

📍 9819 Lake Ave #6, Cleveland, OH 44102

• 💰 Sold Price: $649,900

• 📏 Size: 2,165 sq. ft.

• 📅 Year Built: 2026

• 🛏 3 Beds | 🛁 2 Full + 1 Half Bath

• 🚗 Private 2-Car Garage

• 🏢 HOA: $295/month

• 🏷 Property Tax Abatement: 15 Years

📝 Investor Takeaway

Listed at $649,900, this newly constructed Edgewater townhome is priced approximately 2.2% above its $636,200 Zestimate. With 228 cumulative days on market, buyers may have room to negotiate. The 44102 market currently favors buyers, with a market index of 33/100 and a median of 57 days to pending.

🏡 Neighborhood Insight

• 📍 Community: Edgewater, Cleveland (44102)

• 🏞 Nearby Landmarks: Edgewater Park, Lake Erie, Gordon Square Arts District, downtown Cleveland

• 🚶 Accessibility: Walkable to Edgewater Park and nearby West Side dining and nightlife; minutes from downtown Cleveland and I-90

• 🌿 Lifestyle Appeal: Edgewater offers a blend of lakefront recreation and urban convenience. This townhome is designed for buyers seeking contemporary, low-maintenance living, with multiple levels of lake views and a private rooftop lounge for entertaining.

📈 Recent Sales Nearby:

• 9541 Lake Ave – $621,000 | 3 Bed | 2.5 Bath | Townhome

• 1320 W 58th St – $665,000 | 3 Bed | 2.5 Bath | 2,108 sq. ft.

• 5861 Father Caruso Dr – $640,000 | 3 Bed | 2.5 Bath | 2,416 sq. ft.

💡 Insider’s Insight

🏠 Cleveland Inventory Climbs 21.5 Percent While Sellers Hold List Prices

Realtor.com’s October report shows Cleveland metro buyers with far more choice than a year ago. Active listings reached 4,777, up 21.5 percent from last year, well ahead of the national gain of 7.4 percent. New listings rose 2.3 percent, while the national count fell 7.5 percent.

Sellers have not blinked on asking prices. The median list price held at $259,900, unchanged from a year ago, while the national median fell 2.2 percent to $415,000. The pressure is showing up elsewhere, in more price cuts and slower sales.

📌 October snapshot, Cleveland metro vs the US

• Listings with a price cut: 22.5 percent (US 20.5 percent), up modestly from a year ago

• Median days on market: 45 (US 63), up 7.1 percent year over year (US up 0.8 percent)

Cleveland homes still sell faster than the national median, but buyers have a bit more time to decide than they did twelve months ago.

🔑 Investor Takeaway

Flat asking prices with rising inventory and more cuts point to negotiation room in the details, not in the headline price. Look at listings that have already cut once or sat past 45 days. Sellers who price near the market should still move at a normal pace, so overpriced listings are where the leverage sits.

🏢 Northeast Ohio Apartment Vacancy Improves to 8.0 Percent as Construction Slows

Colliers’ Q3 2026 report says the Northeast Ohio multifamily market is stabilizing. Vacancy fell to 8.0 percent from 8.6 percent in Q2 across an inventory of about 225,003 units. Trailing 12 month absorption reached 1,792 units, up from 383 units in the Q2 report. Colliers notes that owners still face competition, especially in newer properties and lease ups.

Supply pressure is easing. Units under construction dropped from 3,381 in Q2 to under 2,200. Average rent held at about $1,265 a month, or $1.48 per square foot, compared with $1.50 per square foot in Q2.

📌 Notable Q3 sales in Cleveland

• Perch on the Lake, 240 units, 5115 Lake Road: $25.5 million

• The Brick Lofts at Historic West Tech, 189 units, 2201 W. 93rd Street: $16.5 million

• Royalwood, 66 units, 5301 Royalwood Road: $7.47 million

• Villa View Apartments, 68 units, 250 to 270 E. 244th Street: $3.525 million

Ohio multifamily sales volume rose 30.3 percent quarter over quarter to $624.9 million, and Midwest volume rose 17.9 percent to $5.71 billion. U.S. volume jumped 61 percent to $110.4 billion, but excluding the AvalonBay and Equity Residential merger, national activity fell 7 percent year over year.

🔑 Investor Takeaway

Occupancy is improving and the pipeline is shrinking, but 8.0 percent vacancy still leaves owners competing. Flat rents mean income growth leans on filling units, not raising prices. Pricing in the four sales ranged from roughly $52,000 to $113,000 per unit, so quality, location, and condition drive value more than the market average.

🏡House of the Week

Fully Reimagined Brick Colonial with 10-Year Tax Abatement, 3-Car Garage & Luxury Finishes Steps from Edgewater Park

📍 10111 Edgewater Dr, Cleveland, OH 44102

• 💰 Price: $1,600,000

• 📏 Size: 4,300 sqft

• 📅 Year Built: 1915 | 10-Year Tax Abatement

• 🛏 5 Beds | 🛁 3 Full Baths + 2 Half Baths

• 🚗 Detached 3-Car Garage | Extended Driveway

• 🏡 Single-Family Brick Colonial | Edgewater

• 💵 Taxes: $14,002/yr (~$1,167/mo) | HOA: None

🧘 Vibes: A complete top-to-bottom transformation blending original Colonial architecture with warm contemporary luxury. Featuring all-new plumbing, electrical, HVAC, roofing, and windows while preserving original moldings, columns, and doors.

👉 Listed by: Rebecca Donatelli & Natalie M. Antonelli | Elite Sotheby's International Realty

📞 216-632-0515 | ✉️ [email protected]

🛠 Tools & Resources We Recommend

• PropStream → Lead generation + property comps

• AirDNA → Short-term rental profitability data

• BiggerPockets Cap Rate Guide → Know how to calculate investment ROI

• Cleveland Housing Court Tracker → Spot eviction risks and distressed deals

• Cleveland Real Estate Investor Facebook Group → Share deals and insights with local investors