🏡 Prices hit record highs — again

🚫 Browns’ $3.6B stadium plan grounded by flight concerns

September 03, 2025

Good morning, Cleveland Real Estate Investors!

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📬 In today’s edition:

  • 🏡 Prices hit record highs — again

  • 🏈 From stadiums to suburbs: Taylor & Travis eye CLE

  • 🛠️ 1923 duplex → modern rental appeal in Cleveland

📰 Cleveland Market Minute

Forget New York or Kansas City: Could Taylor Swift and Travis Kelce be house hunting in Cleveland?

HUNTING VALLEY, Ohio -- Now that Taylor Swift and Travis Kelce are engaged, they might be in the market for a place to call their own — somewhere they could leave the Christmas lights up ’til January, or maybe even start a family.

But where? New York City, where privacy is scarce and paparazzi are everywhere? Kansas City, with its overrated barbecue? The answer is Cleveland, obviously.

Cleveland State to negotiate with USL on Wolstein Center redevelopment

Cleveland State University's Board of Trustees voted Thursday to start negotiations with the United Soccer League (USL) to redevelop the Wolstein Center site into a new soccer stadium and mixed-use district.

The project could bring men's and women's professional soccer to Cleveland while reshaping the downtown Campus District.

Cleveland Browns denied permission to build new $3.6 billion stadium over fears its height will obstruct PLANE traffic

A law firm representing the Haslam Sports Group was notified that a permit application was denied. The Browns delivered plans to build a new stadium in Brook Park near Cleveland Hopkins International Airport.

However, a crucial ODOT-Aviation permit has been declined for the stadium. This puts the $3.6 billion stadium plan in serious jeopardy. The denial letter was sent by the Ohio Department of Transportation to Clyde & Co. US LLP

📍10326 Almira Ave, Cleveland, OH 44111

  • 💰 Sale Price: $220,000 (Sold August 29, 2025)

  • 📏 Size: 4 beds | 🛁 2 baths | 8 total rooms

  • 🏘️ Property Type: Duplex (Multi-Family)

  • 🌳 Lot Size: 5,201 sq ft (0.12 acres)

  • 🛠️ Year Built: 1923

  • 🚗 Garage: 3-car detached garage

  • 📝 Investor Takeaway

This 1923 duplex in Cleveland’s Lorain/Denison neighborhood sold for $220K, offering 4 bedrooms and 2 baths across two units. With 8 total rooms and an unfinished basement, the property combines historic charm with solid rental appeal.

Key features include forced air heating, ceiling fans for cooling, built-in storage, crown molding, and a fully fenced yard. A large 3-car garage provides significant tenant or owner value, making this property a strong choice for investors seeking cash flow in Cleveland’s West Side rental market.

🏡 Neighborhood Insight

  • 📍 Nearby Cross Streets: Between West Blvd & W. 105th St

  • 🏫 School District: Cleveland Municipal – 1809

  • 🧾 Assessed Taxes: ~$3,007 annually

  • 💸 No HOA fees

📈 Recent Sales Nearby:

  • 10415 Bernard Ave – $212,000 | Duplex | 4 beds | 2 baths

  • 10508 Almira Ave – $225,000 | Multi-family | 5 beds | 2 baths

  • 10601 Linnet Ave – $218,500 | Duplex | 4 beds | 2.5 baths

📌 Notable Features

  • Duplex layout with 4 bedrooms, 2 baths

  • Built-in features + crown molding for added charm

  • Appliances included (dishwasher, microwave, range, refrigerator)

  • Laundry in basement

  • Fenced yard (partial wood fencing)

  • 3-car detached garage + street parking

  • Classic 2-story structure with aluminum, vinyl & wood siding

💡 Insider’s Insight

📰 Greater Cleveland Real Estate Market Update

📈 Market Highlights

🏠 Inventory is Up… But Still Tight

  • 2,851 active listings in July 2025 (vs 2,681 in June).

  • Big jump from 2,181 listings in July 2024.

  • Still hovering around 2020 levels → not enough to end the shortage.

Takeaway: More homes available, but demand still outpaces supply.

🔄 Sales Activity Steady

  • 1,359 homes sold in July 2025 (up from 1,226 in June).

  • Almost identical to July 2024 (1,373 sales).

  • Still below the pandemic boom of 2020 (1,828 sales).

Takeaway: Buyer demand is stable but not as overheated as past years.

💰 Prices Hit Record Highs

  • Median sale price July 2025: $253,000.

  • June 2025: $246,000 | July 2024: $222,000.

  • July 2020: $165,000 → nearly +53% growth in 5 years 🚀

Takeaway: Prices keep climbing, signaling strong seller leverage.

📊 Absorption Rate (Months of Inventory)

  • July 2025: 2.1 months.

  • Balanced market = 4–5 months.

  • July 2024: 1.59 months.

  • July 2020: 1.58 months.

Takeaway: Still a seller’s market — listings move fast.

🔮 Outlook for Fall 2025

  • Unless new inventory spikes, expect:

  • Continued seller’s market.

  • Prices rising.

  • Homes selling quickly.

Bottom Line: Great time to list. Buyers should be ready to act fast.

🏡 House of the Week – Resort-Style Estate in the Chagrin Valley

📍 14715 Stonehedge Drive, Novelty, OH

  • 💰 Price: $1,995,000

  • 📏 Size: 7,303 sq. ft. + 2,843 sq. ft. finished below grade

  • 🏡 Built: 1992

  • 🛏 6 Beds | 🛁 6 Full + 2 Half Baths

  • 🚗 Garage: 4-car attached garage

  • 🌳 Lot Size: 10 acres

  • 🏫 School District: West Geauga Local School District

🧘 Vibes: Resort-style living at home — pool, tennis court, pavilion, sunroom, wine cellar, and acres of privacy — all just minutes from Chagrin Falls.

👉 Listed by: Kathleen Visconsi, Howard Hanna Real Estate Services

📞 216-831-9310 | ✉️ [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

📣 Weekly Wrap-Up

Taylor Swift and Travis Kelce may have the national spotlight, but local buzz is just as strong — from Cleveland State’s push to redevelop the Wolstein Center into a professional soccer hub, to the Browns’ $3.6B stadium plan stalled over aviation concerns near Hopkins Airport. These projects show both the ambition and regulatory hurdles that shape Cleveland’s growth trajectory.

On the residential side, the August 2025 Market Update highlights clear strength: inventory rose to 2,851 active listings, sales held steady at 1,359, and median prices reached a record $253,000 — more than 50% higher than five years ago. With only 2.1 months of inventory, the city remains a firm seller’s market, suggesting both urgency for buyers and opportunity for well-positioned sellers.

Neighborhood deal flow also shows balance between affordability and prestige. A duplex in the Lorain/Denison neighborhood (10326 Almira Ave) traded for $220,000, reinforcing rental demand on the West Side. At the other end of the spectrum, a $1.99M estate in the Chagrin Valley showcased Cleveland’s luxury tier, offering resort-style amenities across 10 acres.

Meanwhile, broader regional dynamics remind investors to stay sharp. Litigation over Dan Gilbert’s subsidy-driven developments in Detroit echoes ongoing debates about public financing in Cleveland projects like the riverfront master plan and Rocket Mortgage FieldHouse renovations.

Until next week,

Cleveland Real Estate Investors


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