What’s the Median Home Value in Your State?

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Real Estate Agent with Keller Williams Metro Center - Arlington, Alexandria, Vienna/Tyson's

If you’ve entered the real estate market as a buyer or a seller, you’ve inevitably heard the mantra “location, location, location” in reference to identical homes increasing or decreasing in value based on where they’re located.

In today’s housing market where home prices are appreciating quickly, it’s important to know that not every home appreciates at the same rate. The map below demonstrates that point on a state-by-state basis using data from the National Association of Realtors.

Demand often dictates value, even for houses in the same area of the country! High demand for starter and trade-up homes have driven prices up in these categories by nearly 10% over the past year, while those in the premium markets have appreciated at closer to 6%.

 

Bottom Line

If you are debating whether or not to buy and/or sell a home this year, let’s get together to help you figure out exactly what’s going on in our market.

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Topic:
Real Estate Market Trends
Tags:
pricing
first time home buyers
for buyers
for sellers
moveup buyers

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Rainmaker
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Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

Great information ... thanks for sharing!

Jun 27, 2018 07:34 AM #1
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Rainmaker
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Juli Clifford

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