Lakewood home prices rise in the third quarter of 2020

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The median sale price of a home sold in the third quarter of 2020 in Lakewood rose by $40,000 while total sales decreased by 21.1%, according to

From July through September of 2020, there were 220 homes sold, with a median sale price of $225,000 - a 21.6% increase over the $185,000 median sale price for the same period of the previous year. There were 279 homes sold in Lakewood in the third quarter of 2019.

The median sales tax in Lakewood for the most recent year with available data, 2019, was $4,988, approximately 2.2% of the median home sale price for the third quarter of 2020.

The following table compares Lakewood to other Cuyahoga County cities with similar median sales prices in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Olmsted Township3655-34.5%$246,250$220,00011.9%
Highland Heights3341-19.5%$243,000$246,000-1.2%
Broadview Heights908012.5%$236,450$243,750-3%
North Royalton101130-22.3%$232,000$179,50029.2%
Seven Hills6779-15.2%$214,500$183,75016.7%
Shaker Heights165174-5.2%$209,000$196,2506.5%
North Olmsted118160-26.3%$185,000$166,00011.4%
Walton Hills910-10%$184,900$197,500-6.4%

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