Most expensive homes that recently sold in Cleveland

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courtesy: Getty

**Please note the listings below have been updated to reflect corrected values**

(STACKER) — Buying a home is an investment—and an increasingly expensive one. The median value of a home in the United States reached $295,300 in June 2020, according to the National Association of Realtors.

Home buyers have a lot to consider when house-hunting or looking to invest in rental properties, from the state of the housing market itself to taxes and potential resale value. To learn more about home prices in your state, Stacker compiled a list of the most expensive homes that recently sold in Cleveland, Ohio, on realtor.com.

The housing market grew robust and pricey in the last decade following the 2008 recession, but the market could be slowed by rising interest rates. Such a downturn can be good news for potential home-buyers, as you’re more likely to be able to wager a deal on an otherwise overpriced house. Then there is the house itself to consider, including what kind of upkeep it requires (and those associated costs). Depreciation affects all homes at an average rate of 3.636% each year, which can be a help come tax season if you use your home for business or rentals—but may cost you later in capital gains taxes when you sell.

Meanwhile, land value tends to increase over time depending on several factors including where the house is located and what amenities and homes are nearby. More desirable neighborhoods allow sellers to charge more; the mantra “location, location, location” has never been more relevant.

Keep reading to find out the most expensive homes for sale in Northeast Ohio.

3118 Vine Ct, Cleveland ($810,000)
– 3 bedrooms; 4 bathrooms; 2,589 square feet; $312 per square foot (view listing on realtor.com)

3106 Vine Ct Unit 7, Cleveland ($815,000)
– 3 bedrooms; 4 bathrooms; 2,947 square feet; $276 per square foot (view listing on realtor.com)

9613 Cushing Ln, Bratenahl ($820,000)
– 3 bedrooms; 5 bathrooms; 5,440 square feet; $150 per square foot (view listing on realtor.com)

200 Eagle Point Dr, Lyndhurst ($825,000)
– 3 bedrooms; 3 bathrooms; 3,371 square feet; $244 per square foot (view listing on realtor.com)

22920 Lake Rd, Cleveland ($850,000)
– 4 bedrooms; 4 bathrooms; 3,472 square feet; $244 per square foot (view listing on realtor.com)

635 W Lakeside Ave Apt 600, Cleveland ($925,000)
– 3 bedrooms; 5 bathrooms; 4,298 square feet; $215 per square foot (view listing on realtor.com)

1960 E 123rd St Unit D, Cleveland ($1,062,500)
– 3 bedrooms; 4 bathrooms; 4,242 square feet; $250 per square foot (view listing on realtor.com)

11 Colony Ln, Cleveland ($1,850,000)
– 3 bedrooms; 5 bathrooms; 4,044 square feet; $457 per square foot (view listing on realtor.com)

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