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📬 In today’s edition:

• 🔑 Gated community, vaulted ceilings, Lake views at $540K

• 📊 $279K median, 3.2 months of supply, 98.7% sale to list

• 🌱 New construction is filling Glenville's supply gap

📰 Cleveland Market Minute

Cleveland approves last piece of mayor's 'Housing Innovation District'

Building new homes on Cleveland’s East Side has been a puzzling problem for city leaders to solve, but the last piece of Mayor Justin Bibb’s plan to spur construction won approval from City Council this week.

Council voted 11-2 to approve what’s called the TIF District, which spans parts of the Hough, St. Clair-Superior and Central neighborhoods. The district uses tax-increment financing to capture property taxes and reinvest them into public infrastructure like roads, sewers and others projects that would make building homes easier for developers.

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The 21st Century ROAD to Housing Act: Expanding Home Ownership

On July 11, 2026, the 21st Century ROAD to Housing Act (H.R. 6644) became law, enacting a broad bipartisan package aimed at addressing housing affordability and expanding homeownership opportunities.

The legislation seeks to increase housing supply and improve access to homeownership through reforms affecting residential development, housing finance and the single-family housing market.

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Glenville gets new apartments, infill

As Glenville’s stock of older and largely historic buildings continues to shrink, new construction is rushing to fill some of the lost supply. Much of that development aims to cater to specific needs, such as for seniors, veterans, or individuals with disabilities.

The scattered-site Parkside Homes development addresses a slightly broader need, creating an affordable path to homeownership for households leasing one of its 55 new construction infill homes.

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🏠 Just Sold Spotlight – Rare End-Unit Townhomes of Ohio City with Dual Rooftop Terraces, Lake Erie Views, Gated Community & Vaulted Great Room 45 Days to Close

📍 1517 W 32nd St, Cleveland, OH 44113

• 💰 Sold Price: $540,000

• 📏 Size: 1,926 sq. ft.

• 📅 Year Built: 2004

• 🛏 2 Beds | 🛁 3 Full + 2 Half Baths

• 🚗 Attached 2-Car Garage (Gated)

• 🌳 Lot Size: 1,568 sq. ft.

• 🏫 School District: Cleveland Municipal School District

📝 Investor Takeaway

Closing $15,900 below its $555,900 Zestimate after 45 days on market, this end-unit in the Townhomes of Ohio City sold at a notable discount a reflection of both the soft 44113 buyer's market (36/100 index) and a tax structure that demands careful investor underwriting.

🏡 Neighborhood Insight

• 📍 Community: North Ohio City, Cleveland (44113)

• 🏞 Nearby Landmarks: West Side Market, Old River Yacht Club, Lake Erie, downtown Cleveland, professional sporting venues, I-90

• 🚶 Accessibility: Moments from downtown Cleveland, acclaimed dining, West Side Market, and the lakefront

• 🌿 Lifestyle Appeal: The Townhomes of Ohio City deliver a boutique gated community experience rarely found at this price point in Cleveland — tree-lined streets, two shared green spaces, fenced parking, and Lake Erie sightlines create a lifestyle product with no direct comparable in the near west urban market

📈 Recent Sales Nearby:

• 1320 W 58th St – $665,000 | 3 Bed | 3 Bath | 2.1k sq. ft.

• 1313 W 54th St – $466,000 | 2 Bed | 3 Bath | 1.6k sq. ft.

• 4201 Woodbine Ave – $530,000 | 4 Bed | 5 Bath | 1.9k sq. ft.

• 2253 W 19th St – $645,000 | 2 Bed | 4 Bath | 2.4k sq. ft.

• 1951 W 26th St #T-5 – $420,000 | 2 Bed | 3 Bath | 2k sq. ft.

Listed by: Todd A Reinart | Howard Hanna

📞 440-567-6643 | [email protected]

Bought by: Allie Carr | Berkshire Hathaway HomeServices Professional Realty

💡 Insider’s Insight

🏘 Cleveland Home Prices Climb 4.1% as Sales Hit a Four Year July High

Cleveland's housing market delivered a genuinely strong July, and the headline number is that home sales rose 4.6% year over year, reaching the highest level for the month in four years. Cleveland ranked 11th among the 40 largest U.S. housing markets for sales growth, performing right in line with fellow Midwest markets like Columbus and Kansas City.

Homes sold in about 45 days, which tells you demand held steady even as sellers had more competition on the shelf than a year ago. Sales gains showed up across every housing type, but condos and townhomes led the way, a signal that lower cost options are absorbing some of the pressure as overall prices keep climbing.

Cleveland's fastest growing counties, Lorain and Medina, posted particularly strong numbers, with suburbs like Avon, Elyria, Brunswick, and North Ridgeville running well above the metro benchmark.

📌 Cleveland's July 2026 numbers at a glance

• Median sale price: $279,000, up 4.1% year over year (compares to 2.6% nationally)

• Homes for sale: 6,568, up 4.3% year over year, still 29.1% below pre pandemic levels

• Home sales: 2,619 closed, up 4.6% year over year, ranked 11th nationally

• Days on market: 46 days

• Months of supply: 3.2, versus 4.7 nationally

• Sale to list price ratio: 98.7%

That 3.2 months of supply figure is the number that explains everything else in this report. National supply sits at 4.7 months, a genuinely balanced reading. Cleveland at 3.2 months is still a seller's market by any conventional definition, which is exactly why sellers continued to hold firm on price even as more inventory came online. Homes typically sold for 98.7% of asking price in July, confirming sellers kept real negotiating leverage.

🔑 Investor Takeaway

The story underneath this report is deceleration, not reversal, and that distinction matters for how investors should be positioning right now. A year ago Cleveland prices were growing at 12.5%, and inventory was expanding at 13.6%. Both of those growth rates have cooled to roughly a third of where they stood twelve months ago, which tells you the market is normalizing from an unusually hot stretch rather than breaking down.

🏡House of the Week – Brand-New Construction at $122/sqft with 10-Year Tax Abatement in Cleveland's Hough Neighborhood

📍 1893 E 84th St, Cleveland, OH 44103

• 💰 Price: $398,000

• 📏 Size: 3,254 sq ft (2,386 above grade | 868 partially finished basement)

• 📅 Year Built: 2026 | New Construction | 10-Year Tax Abatement

• 🛏 3 Beds | 🛁 2 Full Baths + 1 Half Bath

• 🚗 Attached 2-Car Garage

• 🏡 Traditional Single Family Residence | Hough

• 🏫 School District: Cleveland Metropolitan School District

🧘 Vibes: Brand-new construction in 2026, 3,254 square feet, a 10-year tax abatement, and an annual tax bill of $54. At $122 per square foot, this Cleveland Bricks build in Hough is the kind of new-construction value proposition that draws serious attention from buyers and investors alike especially with FHA, USDA, and VA financing all accepted alongside conventional and cash.

👉 Listed by: Charles D. Medalie | ListWithFreedom.com Inc.

📞 855-456-4945 ✉️ [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