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Sunday, November 17, 2024

What happened to the median home price in Lakewood during August 2021?

Realestate2

The median sale price of a home sold in August 2021 in Lakewood rose by $16,000 while total sales decreased by 41%, according to BlockShopper.com.

In August 2021, there were 46 homes sold, with a median sale price of $244,000 - a 7% increase over the $228,000 median sale price for the same period of the previous year. There were 78 homes sold in Lakewood in August 2020.

The median sales tax in Lakewood for the most recent year with available data, 2019, was $4,988, approximately 2% of the median home sale price for August 2021.

The following table compares Lakewood to other Cuyahoga County cities with similar median sale prices in August 2021:

CityAug. 2021 Home SalesAug. 2020 Home Sales% change (Total Home Sales)Aug. 2021 Median Sales PriceAug. 2020 Median Sales Price% change (Median Sales Price)
Chagrin Falls38-62.5%$275,000$365,000-24.7%
Walton Hills14-75%$269,919$168,00060.7%
Beachwood1316-18.8%$260,000$309,375-16%
Strongsville3950-22%$260,000$240,5008.1%
Fairview Park1726-34.6%$245,000$189,40029.4%
Lakewood4678-41%$244,000$228,0007%
Rocky River2232-31.3%$241,500$283,500-14.8%
Seven Hills1424-41.7%$227,500$187,50021.3%
Middleburg Heights1324-45.8%$220,000$179,50022.6%
Bay Village341-92.7%$220,000$290,000-24.1%
Olmsted Falls12119.1%$215,544.50$140,00054%

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