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Sunday, November 17, 2024

What happened to the median home price in Westlake during the second half of 2020?

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The median sale price of a home sold in the second half of 2020 in Westlake rose by $43,000 while total sales increased by 1.9%, according to BlockShopper.com.

From July through December of 2020, there were 214 homes sold, with a median sale price of $261,500 - a 19.7% increase over the $218,500 median sale price for the same period of the previous year. There were 210 homes sold in Westlake in the second half of 2019.

The median sales tax in Westlake for the most recent year with available data, 2019, was $5,354, approximately 2% of the median home sale price for the second half of 2020.

The following table compares Westlake to other Cuyahoga County cities with similar median sale prices in the second half of 2020:

CityJuly - Dec. 2020 Home SalesJuly - Dec. 2019 Home Sales% change (Total Home Sales)July - Dec. 2020 Median Sales PriceJuly - Dec. 2019 Median Sales Price% change (Median Sales Price)
Mayfield232015%$282,000$246,25014.5%
Brecksville97101-4%$280,000$236,00018.6%
Bay Village160167-4.2%$280,000$240,00016.7%
Rocky River177220-19.5%$277,250$249,00011.3%
Valley View10100%$262,450$201,50030.2%
Westlake2142101.9%$261,500$218,50019.7%
Independence4445-2.2%$251,000$230,0009.1%
Highland Heights6270-11.4%$246,450$280,000-12%
Woodmere440%$245,000$222,50010.1%
Strongsville317323-1.9%$245,000$218,50012.1%
North Royalton191211-9.5%$227,000$175,00029.7%

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