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Cleveland Reporter

Saturday, November 23, 2024

Cleveland home prices rise in the second half of 2017

Realestate1

The median sale price of a home sold in the second half of 2017 in Cleveland rose by $8,000 while total sales increased by 14.3%, according to BlockShopper.com.

From July through December of 2017, there were 3,535 homes sold, with a median sale price of $36,000 - a 28.6% increase over the $28,000 median sale price for the same period of the previous year. There were 3,092 homes sold in Cleveland in the second half of 2016.

The median sales tax in Cleveland for the most recent year with available data, 2016, was $1,682, approximately 4.7% of the median home sale price for the second half of 2017.

The following table compares Cleveland to other Cuyahoga County cities with similar median sales prices in the second half of 2017:

CityJuly - Dec. 2017 Home SalesJuly - Dec. 2016 Home Sales% change (Total Home Sales)July - Dec. 2017 Median Sales PriceJuly - Dec. 2016 Median Sales Price% change (Median Sales Price)
South Euclid33124734%$85,000$75,00013.3%
North Randall34-25%$72,402$73,950-2.1%
Bedford13411912.6%$61,500$62,000-0.8%
Euclid53842426.9%$53,100$46,333.5014.6%
Garfield Heights41335715.7%$51,200$39,00031.3%
Highland Hills5425%$50,000$93,575-46.6%
Warrensville Heights997433.8%$45,000$30,00050%
Newburgh Heights1821-14.3%$42,900$30,00043%
Maple Heights256280-8.6%$40,000$33,16720.6%
Cleveland3,5353,09214.3%$36,000$28,00028.6%
East Cleveland70101-30.7%$18,250$11,00065.9%

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