Moreland Hills Real Estate Market Forecast 2023

The quaint, stunning village of Moreland Hills is a lovely eastern suburb of Cleveland, Ohio, just 14 miles from the big-city scene. The trees stand tall in the vast Ohio woods so near Moreland Hills homes, and the Chagrin River runs swiftly past the many walking trails and vast, untouched lawn space. Residents enjoy hiking, biking, or running on the trails winding through the nature preserves and parks.

The impressive architecture in the village complements its natural beauty, as Moreland Hills real estate is stunning on its own. Most grand Moreland Hills homes sit on expansive two-acre lots and feature spacious yards. The interiors are open, well-lit, and luxurious; it is no wonder why Moreland Hills properties are highly desirable.

Attractive real estate means attracting potential buyers, so a buyer looking for a Moreland Hills home or hoping to sell should expect some competition in the market. As more and more people make the move to the Midwest for its friendly atmosphere and slow-paced, leisurely lifestyle, the market becomes more and more competitive.

The Cleveland area has a strong community and ample job opportunities. Moreland Hills specifically draws in luxury seekers with an appreciation for the natural world. If you are considering moving to the area, let’s take a deep dive into the Moreland Hills housing market.

Potential homebuyers searching for a gorgeous home in the Cleveland area are attracted to Moreland Hills real estate for its semi-rural atmosphere just 14 miles from the city. Wiley Creek and the Chagrin River cut through the village to please the eyes and ears of Moreland Hills nature lovers.

Considering that the suburb lies so near the busy city of Cleveland, outdoor recreation in the area is not lacking. It is near Ansel’s Cave in the West Woods, the Snowshoe North Chagrin Reservation, and Bridal Veil Falls, all of which provide plenty of trails and opportunities for enjoying the great outdoors. Working professionals with jobs in Cleveland and a family at home might consider settling in Moreland Hills for a laid-back, tranquil lifestyle.

The affluent village is replete with numerous restaurants, museums, and opportunities for shopping. Additionally, the Moreland Hills community is tight-knit, friendly, and welcoming. Residents enjoy festivals and gatherings in local parks and green spaces. The idyllic small town is perfect for those with busy lifestyles who cherish a quiet community. It is no wonder, then, that this charming village commands high prices and consistent competition on its real estate scene.

Homes in the Cleveland area are priced high; year by year, that number on the price tag grows. The Cleveland area in Cuyahoga County is a popular place to lay down roots. Cleveland is bustling with plentiful job opportunities, and residents of the suburbs are allowed a quiet life only a short distance from the city’s amenities and entertainment spots.

Moreland Hills has a population of about 3,500 as of 2021. The charming village is home to many luxury residences, and because the area is quite popular due to its many amenities, home prices are on the rise. In fact, a Moreland Hills colonial-style residence was the most expensive home sold in Cuyahoga County in April 2023, selling at a price point of $2.79 million.

As of the latest market data from the Akron Cleveland Association of Realtors, in Cuyahoga County, sales volume has been on the rise this year, from $215 million in January to over $400 million total in June 2023. More and more homes are selling throughout the county. In addition, homes are spending less time on the market, from an average of 47 days in January to just 30 days as of June 2023. The average sales price has also been on the rise in Cuyahoga County this year, from $200,000 in January to $277,000 in June.

That said, homes in Moreland Hills command much higher price points than the rest of the county. Historically, median home prices in the Cleveland area have consistently been on the rise year to year. For instance, in Moreland Hills specifically, home prices between the years 2021 and 2022 increased by a staggering 32%.

The median home price in Moreland Hills currently sits at around $675,000, though many homes in the area are priced well into the millions, as the village is host to many high-end, luxury residences. The houses are gorgeously designed and carefully crafted, featuring impressive amenities, pristine landscaping, idyllic privacy, grand entrances, elegant fireplaces, soaring ceilings, and much more. Along your search for Moreland Hills real estate, you will encounter truly charming properties, both new and old.

In a suburb so picturesque as Moreland Hills, the housing market is quite competitive. The consistent increase in home prices in the Cleveland area is partially due to a shortage of inventory. Thus, buyers hoping to live in Cuyahoga County must be quick on their feet to ensure the purchase of their dream home. It is imperative in such a competitive market to be prepared and get pre-approved for a mortgage ahead of time.

Homes in Moreland Hills will likely continue to see price increases for the rest of 2023 and over the coming years. Also, a 2023 ranking shows that Cleveland has the second-hottest real estate market for the year. While a great number of buyers envision a life for themselves in the area, the supply of available homes does not match up with the soaring demand. Whether you’re buying or selling in Moreland Hills real estate game, working with a professional will get you far.

If you are seeking a seasoned and skilled real estate agent with extensive knowledge of the Cleveland area, it’s time to work with a leading, success-driven expert. Realtor Adam S. Kaufman is a well-connected, knowledgeable professional with the experience needed to secure your new home or hope you sell one. To begin your house hunt in Moreland Hills real estate, contact Adam today.