“What did the house say to the buyer in spring? ‘Stop stalling and let’s porch it up!’ 🌸☀️”

Good morning, CREI. As we coast from spring blossoms into summer sizzle, the Cleveland market is doing its own seasonal dance—more listings blooming, deals heating up, and buyers finally getting to breathe. Grab your lemonade, let’s dive in 🍋👇

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📬 In today’s edition:

• 🏥 UH Approved: 40K sq. ft. conference center coming to University Circle

• 💼 Progressive Sells: 100K+ sq. ft. office in Mayfield Heights changes hands

• 💎 Rocky River Gem: $3.2M lakefront chateau hits the market

• 📊 May 2025 Market Snapshot

• 🔥 Luxury condo in the Flats

By Tyler Finkler - Local Realtor & Appraiser

📰 Cleveland Market Minute

🏥 University Hospitals’ massive new conference center receives green light from planning commission

CLEVELAND, Ohio -- University Hospitals is moving forward with its plan to build a massive conference center in University Circle.

UH received schematic approval on Friday from the Cleveland City Planning Commission for its 40,000-square-foot Iris and Bert Wolstein Center.

🔗 Read More

💼 Former Progressive Insurance office sells for millions

MAYFIELD HEIGHTS, Ohio -- Progressive Insurance’s Mayfield Heights office building has been sold, two years after the company announced its office downsizing.

The insurance giant’s 104,221-square-foot property that sits on six acres at 6055 Parkland Boulevard, along Interstate 271, is about four miles from its former Mayfield headquarters.

🔗 Read More

💎 ‘Hidden gem’ on Lake Erie in Rocky River asks $3.2 million

ROCKY RIVER, Ohio -- Cruise down Lake Road and you might miss it. But tucked behind the trees at 22100 Lake Road is a chateau-style estate that overlooks Lake Erie.

“This home is a hidden gem,” says listing agent Meredith Hardington at The SALEmaker Team, Howard Hanna. “Because it’s set back from the street, most people never notice it.”

 🔗 Read More

💡 Insider’s Insight

May 2025 Housing Market: A Shift Toward Balance in Northeast Ohio

Northeast Ohio’s housing market is cooling from the highs of the past few years — but that’s not bad news. Inventory is up across most counties, giving buyers more options and room to negotiate. Meanwhile, sales volume is easing, and homes are taking longer to sell, signaling a return to more balanced conditions.

Despite the slowdown in activity, home prices are still rising in many areas — especially in Lorain and Lake Counties, which saw double-digit year-over-year gains. The result? A more even playing field where both buyers and sellers have leverage, depending on how well they play their cards.

This isn’t a market for rushing or guessing — it’s a time for strategy, smart pricing, and making moves based on data, not hype.

🏡 Price Trends by County

• Lorain County: 🔼 +17.7% YoY | Median Price: $263,300

• Cuyahoga/Portage/Summit: 🔼 +9.5% | Median: $220,000

• Geauga/Lake: 🔼 +5.9% | Median: $254,450

• Medina: 🔼 +0.4% | Median: $254,450

• Condo Hotspots:

  • Lorain County: 🔼 +24.4%

  • Cuyahoga/Portage/Summit: 🔼 +16%

  • Geauga/Lake: 🔽 –4.4%

🏘️ Inventory Surge = More Choices

• Cuyahoga/Portage/Summit: 🔼 +37.3%

• Geauga/Lake: 🔼 +34.6%

• Lorain: 🔼 +22.9%

• Medina: 🔼 +7.6%

Buyers finally have options. The frenzy is fading, and inspections are back on the table.

🛑 Sales Activity Slows

• Cuyahoga/Portage/Summit: 🔽 –3.1%

• Lorain & Geauga/Lake: 🔽 –0.7%

• Medina: 🔼 +6% (the only increase!)

This slower pace signals a more balanced, deliberate buying market.

⏱️ Days on Market Rise

• Geauga/Lake: ⌛ +32.4%

• Townhomes/Condos in Cuyahoga/Portage/Summit: ⌛ +32.3%

• Single-family homes in Cuyahoga/Portage/Summit: No change

• Expect homes to sit 1–2 months, not 1–2 weeks

💸 Affordability Index Declines

• Lorain & Geauga/Lake: ⬇️ –12.6%

• Cuyahoga/Portage/Summit: ⬇️ –5.9%

• Medina: ⬇️ –2.6%

Despite drops, our regional median prices remain ~50% below the national median ($220K–$263K vs. $403K).

📈 What It Means for Buyers

Opportunities:

• More inventory = More negotiating power

• Properties sitting 30+ days? Time to negotiate

• No more rushing into over-asking bids

Challenges:

• Monthly payments are higher with 2025 rates

• Some counties still seeing strong appreciation

Smart Buyer Tips:

• Get fully pre-approved

• Don't waive inspections

• Target Cuyahoga or Medina for better price-to-value ratios

• Use time to shop smart, not fast

🏠 What It Means for Sellers

Opportunities:

• Prices are still rising in most areas

• Lorain County? You’re golden (17.7%+ price jump)

Challenges:

• More competition = Buyers are pickier

• Pricing right from day one is critical

Smart Seller Tips:

• Prep & repair before listing

• Offer incentives (closing costs, warranties)

• Condos in Lorain/Cuyahoga? Great time to sell

• Be patient—days on market are up

🧭 Final Thoughts

We’re in a truly balanced market.
That means expectations—not timing—are what matter most.

Whether you're looking to buy below the national average or position your home to sell in a shifting climate, Northeast Ohio still provides strong value in 2025. Just make sure you're equipped with data and a solid plan.

—

📍 For tailored insights and guidance, reach out to Tyler Finkler or connect with your preferred local pro.

✉️ Questions about what this means for your property or investment strategy?
📞 216-217-0223 | 💼 www.FinklerRealEstateServices.com

🧭 Navigating the 2025 Market Shift?

📲 Tyler Finkler, Appraiser & Realtor
🔗 www.FinklerRealEstateServices.com
📞 216-217-0223
✉️ [email protected]

Whether you’re buying in Lorain’s hot market, selling in Geauga’s cooling zones, or just trying to price right in a crowded Cuyahoga field—Tyler Finkler has the local data and strategy to guide your next move.

💥 This Week’s Hot Property

🏙️ Luxury Condo Living in the Heart of the Flats – 1237 Washington Ave APT 408, Cleveland, OH

💰 Price: $329,900

📏 Size: 1,200 sq. ft.

🏢 Built: 2007 – Fully Renovated

🛏 2 Beds | 🛁 2 Baths

🚗 Includes 1 Garage Parking Space

💸 HOA: $603/month

🏙️ Est. Monthly Payment: ~$2,981/mo

🎯 Notable Features:

• Corner unit with panoramic skyline and waterfront views

• Waterfall granite island & quartz countertops

• GE Monogram stainless appliances

• Remote-operated blinds & custom closet

• Engineered hardwood & tile flooring throughout

• Deep soaking tub + walk-in stone rainshower

• Upgraded stacking laundry

• Spacious patio overlooking the riverfront

• Building amenities: attended front desk, gym

• Covered by Old Republic Home Warranty

📍 Location: East Bank of the Flats – steps from downtown CLE, Lake Erie, top dining & entertainment

👉 Listing Agent: Jenne Haddox – Richfield Realty Group LLC 📞 330-554-1442 | MLS#: 5122416

The C.R.E.I Off-Market Deals 🔍💰

Your inside track to Cleveland’s hidden real estate deals, investor insights, and untapped opportunities.

5501 N Ridge Rd, Madison, OH 44057

• Apartment | 5 units | 4,200sf | 43,560sf lot | 1940

• Purchase Price: $325,000

• Current Income: $3,650/month

4005 E 144th St, Cleveland, OH 44128

• Duplex | 4b/2b | 2,068sf | 1928

• Purchase Price is $110,000

• Current Income is $900 + $650

For more information about off-market deals, please reply to this email or contact Tyler directly:

📞 216-217-0223
✉️ [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

The Northeast Ohio housing market is officially in balance mode. Prices are still climbing, inventory is growing fast, and buyer urgency is cooling — welcome to a market where preparation beats timing.

Lorain County is surging ahead with double-digit price growth, while Geauga is feeling a slight chill. Buyers now have breathing room, more choices, and actual negotiation power. Meanwhile, sellers are learning that patience (and sharp pricing) is the new superpower.

From rising affordability challenges to longer days on market, the real winners this week were those who adjusted expectations, priced right, and stayed nimble.

📩 Don’t keep us a secret — forward the newsletter to your investor circle!

Until next week,
Cleveland Real Estate Investors