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Real Estate Predictions in Cuyahoga County Entering Quarter 3 of 2022

Michelle McQuade | August 23, 2022

Need real estate tips in Cuyahoga County this year? Here’s what’s in store for the housing market for the remainder of the year.

Real Estate Predictions in Cuyahoga County

Cuyahoga County real estate trends for the first half of 2022

The housing market saw a great deal of activity in the first six months of this year with remarkable price growth and strong interest from buyers.

Rising home prices

Home prices went up in most communities in Cuyahoga County earlier this year. Median home prices increased by 8.2% compared to the first half of 2021. From January to June 2022, the median price of single-family homes and condo units was $227,500, up from $210,250 during the same time period in 2021.

The communities of Pepper Pike, Highland Heights, and Bedford Heights had the most price increases, according to local real estate data. Among towns and cities with at least 50 home sales, Pepper Pike sales were up 32.5% in the $156,000 to $636,000 price range. Buyers who are interested in these markets should move quickly before prices rise further this year or next.

Chagrin Falls has also seen an upward trend in home prices during the first eight months of 2022. The median sales price was $530,081 from December 2021 to August 2022. 127 homes were sold in the area.

Q3 2022 forecasts for Cuyahoga County

Chagrin Falls

According to recent data, the home price in Chagrin Falls was $450,000 from December 2021 to August 2022. The average listing price was $524,289 though the average sales price was much higher at $530,081. Buyers and investors should move quickly over the next few months before prices increase further. They must remain open to the possibility of paying over asking price for the most desirable homes in the area.

Bentleyville

According to Realtor, Bentleyville listing prices range from $510,000 to over $2 million. The median listing home price was $799,000 or $182 per square foot in July 2022. The city consistently ranks among the best places to live in Northeast Ohio due to its proximity to Lake Erie. Bentleyville also offers some of the most coveted waterfront homes in Cuyahoga County. The market will continue to be desirable for buyers who want to experience lakeside living in a laid-back environment.

Moreland Hills

Moreland Hills home prices range from $199,000 to upwards of $3.9 million. The median listing home price was $857,500 or $169 per square foot in July 2022. The median sold home price was $965,000.

Redfin considers the Moreland Hills housing market “somewhat competitive” with some homes getting multiple offers. The most desirable properties can sell for nearly 5% above list price.

Following these trends, buyers can expect competition for the best priced properties in the area over the coming months. They should be willing to negotiate and make a strong offer to secure their dream home.

Pepper Pike

Pepper Pike saw one of the most robust home price growths in Cuyahoga County in the first half of 2022 with the median home sale price going up to $617,500, which is a 20.6% year-over-year increase, according to data from Redfin. It is a “somewhat competitive” market with the average home selling for 2% over listing price and the most desirable homes selling for 9% over list price.

Buyers who want to find a home in the summer or fall season should come prepared. Working with a local real estate expert will help them beat out other offers on their chosen home.

Find a home in Cuyahoga County this year

Discover Chagrin Falls, Ohio homes for sale with the help of an experienced Realtor. Call me, Michelle McQuade, at 440.823.2448 or send me a message at michellemcquade(at)howardhanna(dotted)com. I’m a top Realtor in Chagrin Falls and other nearby communities who assists buyers and sellers alike.

40 E. Washington St. Chagrin Falls, OH 44022
440.823.2448
michellemcquade(at)howardhanna(dotted)com