What's 2,200 sq ft worth to you?

By
Real Estate Agent with Coldwell Banker Roth Wehrly Graber RB14042341

     Today Coldwell Banker Real Estate released their annual home price comparison index for the United States and select International markets and what an eye opener it is.

     Unlike a lot of the reports you see that compare median home prices for particular areas, this report takes a hypothetical 2,200 square foot, four bedroom, two and a half bath home and indexes it in 310 different U.S. markets. So you get an apples to apples comparison home in all of the markets.

     This years most expensive market is in La Jolla California where the subject home would average $2,125,000....yeah million, counts me out and the most affordable market is in Grayling Michigan where the same home averages just $112,675.

     That leaves a gap of 2 million dollars between the most expensive market and the most affordable market that the other 308 markets fall into. Not surprisingly 8 of the top 10 most expensive homes are in California markets while only 2 of the top ten most affordable markets are west of the mississippi.

     Fort Wayne comes in at $145,308 avg (sold comps from  Jan 1 to Sept 23rd) for the same home in this market.  While that's not the most affordable average for Indiana, Muncie was the most affordable market in Indiana averaging $144,996, it's certainly well below the national average of $363,401.

    

This is what 2,200 square feet in La Jolla looks like at over $2,000,000 with great views and nice backyard

 

 

 

 

 

 

 

 

 And this is a little more typical of what you might find in the Fort Wayne area for 2,200 square feet for only $145,308 on average.

 

 

 

 

 

 

     So what's 2,200 square feet worth to you? Sure I'd love to live in a coastal area, but I'm not personally willing to give up all the amenities that affordable living allows us here in Fort Wayne. So until I hit the lottery and can buy that vacation home, I'm going to continue living and raising my family in one of the greatest and affordable cities in this nation.

 

Brian Kuhns

Coldwell Banker Roth Wehrly Graber

(260) 489-2485 ext 8487 or (260) 438-6289 cell

email: bkuhns@cbrwg.com

website: http://bkuhns.cbrwg.com

 

 

   

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Coldwell Banker Roth Wehrly Graber

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      When the time comes for you to buy or sell your home, contact me for the latest market information and a detailed analysis of your Real Estate needs.

(260) 438-6289 or by email at bkuhns@movingindiana.com

 

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Anonymous
Julie Tutwiler

Is there somewhere we can view the whole index?

Sep 23, 2009 08:12 AM #1
Rainmaker
199,859
Brian Kuhns
Coldwell Banker Roth Wehrly Graber - Fort Wayne, IN
Fort Wayne Real Estate by Brian Kuhns

There are a couple of different options for you to look at Julie.

http://hpci.coldwellbanker.com/hpci_full.aspx lets you look at some of the different markets and their averages

http://hpci.coldwellbanker.com/ allows user input values to compare their home to 3 different selected markets

http://money.cnn.com/2009/09/23/real_estate/home_price_comparison/index.htm has all of the markets broken down by state...although they've got Fort Wayne listed at a higher average than I do.

Sep 23, 2009 08:35 AM #2
Rainmaker
3,985,513
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Brian...we are all over the place. My hometown you would see it priced at about $175. 

Sep 24, 2009 02:23 AM #3
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Rainmaker
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Brian Kuhns

Fort Wayne Real Estate by Brian Kuhns
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