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Sunday, November 24, 2024

Falling home prices in Highland Heights in the second half of 2020

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The median sale price of a home sold in the second half of 2020 in Highland Heights fell by $33,550 while total sales decreased by 11.4%, according to BlockShopper.com.

From July through December of 2020, there were 62 homes sold, with a median sale price of $246,450 - a 12% decrease over the $280,000 median sale price for the same period of the previous year. There were 70 homes sold in Highland Heights in the second half of 2019.

The median sales tax in Highland Heights for the most recent year with available data, 2019, was $6,087, approximately 2.5% of the median home sale price for the second half of 2020.

The following table compares Highland Heights 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)
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%
Broadview Heights16014411.1%$225,525$214,9504.9%
Lakewood446458-2.6%$225,500$185,00021.9%

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