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Buckeye Reporter

Thursday, October 31, 2024

Independence home prices rise in March 2020

Re 6

The median sale price of a home sold in March 2020 in Independence rose by $123,500 while total sales decreased by 16.7%, according to BlockShopper.com.

In March 2020, there were five homes sold, with a median sale price of $351,000 - a 54.3% increase over the $227,500 median sale price for the same period of the previous year. There were six homes sold in Independence in March 2019.

The median sales tax in Independence for the most recent year with available data, 2016, was $4,557, approximately 1.3% of the median home sale price for March 2020.

The following table compares Independence to other Cuyahoga County cities with similar median sales prices in March 2020:

CityMar. 2020 Home SalesMar. 2019 Home Sales% change (Total Home Sales)Mar. 2020 Median Sales PriceMar. 2019 Median Sales Price% change (Median Sales Price)
Moreland Hills23-33.3%$952,500$660,00044.3%
Gates Mills14-75%$800,000$411,25094.5%
Pepper Pike58-37.5%$385,000$448,750-14.2%
Chagrin Falls69-33.3%$360,000$332,5008.3%
Bratenahl62200%$357,500$179,50099.2%
Independence56-16.7%$351,000$227,50054.3%
Beachwood1114-21.4%$350,000$330,0006.1%
Solon1827-33.3%$305,000$275,00010.9%
Broadview Heights1719-10.5%$296,000$199,90048.1%
Bay Village2127-22.2%$295,000$245,00020.4%
Orange550%$295,000$240,00022.9%

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