The story of this market
The typical home in ZIP 44073 sells for about $239,880, or $235 per square foot.
Prices are up +4% from a year ago, so sellers still have some momentum. Homes take about 62 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,850 a month.
ZIP 44073 — Novelty
The 44073 housing market is characterized by low inventory and high demand for single-family homes, leading to steady price appreciation. While specific metrics for this ZIP are limited in some public datasets, the market remains balanced with a strong preference for high-quality, larger residential properties. Buyers are currently facing a competitive environment with limited supply, driving the median listing price upward.
This ZIP is best suited for families and professionals seeking a quiet, rural-suburban lifestyle with large lot sizes and high-quality schools, while remaining within commuting distance of Cleveland.
Median prices moved up 4.0% year over year.
Homes spend a median of 62 days on market with 5.2 months of supply — a balanced-paced market.
12% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.8% · poverty 2.1% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 11.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 44073, Geauga County OH
Crime rates in Novelty are significantly lower than the Ohio and national averages, with property and violent crime incidents remaining rare.
The area is served by highly-rated public school districts, including West Geauga Local School District, which is recognized for strong academic performance.
The region faces moderate risks related to severe winter weather and occasional localized flooding, with standard insurance coverage typically available.
Development is characterized by low-density residential growth and preservation of rural landscapes, with proximity to the Cleveland employment core driving demand.
Property taxes are levied by Geauga County and local school districts; the rate is determined by local millage rates applied to the assessed value of the property.
Commuters primarily rely on private vehicles to access the Cleveland metropolitan area via major highway corridors like US-322 and I-271.
The area features extensive access to natural amenities, including the Geauga Park District trails, local golf courses, and proximity to the Chagrin River valley.
The rental market is limited in depth, consisting primarily of single-family homes; vacancy pressure is low due to the scarcity of rental inventory.
The local economy is supported by a mix of professional services, healthcare, and manufacturing in the surrounding Geauga County and Cleveland metro area.
Transportation is heavily dependent on personal vehicle use; there is minimal public transit infrastructure within the ZIP code.
Development is strictly managed by local zoning to maintain the rural character of the community.
The Geauga County Auditor manages property assessments, with reappraisals occurring on a triennial cycle.
Parcels are subject to local school district taxes and county-wide levies for services like the Geauga County Library and health districts.
Property insurance premiums are generally stable, though coverage for wind and storm damage is a standard consideration for homeowners.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Large nature preserve with extensive hiking trails and educational facilities.
Nearby state park offering lake access, golf, and winter sports.
Key-figure check: median price diverges 259.1% from the nearest retained anchor (prior refresh cycle) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Validation: the flagged $861,321 (+259.1% vs the prior refresh cycle) could not be independently corroborated and was reverted to the prior cycle value pending review; the case is under review in the Command Center.