what do homes go for in your area??

[Smash255]

just wondering what the average home price is and what the values are in everyone's area

here in Nassau County NY (Long Island) home values are skyrocketing.  Average price is around $465,000 in Nassau and around $525,000 in my area, values have skyrocketed here in the last 5-10 years.  What are thhe values in your area?

[Moooooo]

Single homes:  100,000-250,000
Row homes:  80,000-125,000

[bgwah]

At least $300,000. Often over half a million. Don't have exact numbers.

[dazzleman]

Here's a sampling of the prices in my area:

Small ranch (3BR, 1 bath) - $350-400K
Moderate Sized Colonial (3BR, 1-1/2 bath) - $500-600K
Larger Home (4BR, 2-1/2 bath) - $700-900K
Exceptional Home $1Million +

[Richard]

3,500 sq. ft. home, 3 washrooms, 4 bedrooms, kitchen, living room, dining room, sitting room, den, laundry room, double garage:

Bought for US$220,000 in 2000, now worth US$300,000.

[The Duke]

Average is about $450 K.

[I spent the winter writing songs about getting better]

$97,400 is the median according to city-data.com

not too expensive but our median household income is only $33,956. ouch.

[dazzleman]

$97,400 is the median according to city-data.com

not too expensive but our median household income is only $33,956. ouch.

Actually, your median income is pretty much in line with the rule that you can afford a house that costs about 3x your annual income.

That's a much healthier market in terms of affordability than exists in my area.  I would guess that our median home price is well more than 3x the median income of the area.  The newcomers have much higher incomes than those who have been here a while.

[Smash255]

my area Massapequa/massapequa Park, just looking at homes currently for sale the range is 350k- 1.6 million, (thats just for sale now, their are homes in the $2million range) most homes though are in the $425,000-$675,000 range.  

Outside of forclosure properties you will be hard pressed to find a home in Nassau County under 250,000 (even in the bad neighborhoods) with values in the 3-4 million+ range in some areas.   Values for the most part tend to be between 350,000-650,000, but quite a few towns have average values of near $1million or more especially along the North Shore

[Smash255]

$97,400 is the median according to city-data.com

not too expensive but our median household income is only $33,956. ouch.

Actually, your median income is pretty much in line with the rule that you can afford a house that costs about 3x your annual income.

That's a much healthier market in terms of affordability than exists in my area.  I would guess that our median home price is well more than 3x the median income of the area.  The newcomers have much higher incomes than those who have been here a while.

The so called industry standard rule of thumb is a bit more complicated than that.  Basically your monthly debts (mortgage, credit card, car and other payments) compared to your monthly income (pre-tax).  Generally if your liabilities tend to be 50-55% or less of your monthly income the affordability matches up.

Cost of living is generally quite a bit higher in where we live, compared to much of the other parts of the country, but income is higher also. 

ANother thing is those living in areas with lower values where the properties don't appreciate that much it becomes harder to refinance, and pay off credit cards, car loans & other high payments that  can roll into their mortgage with a lower rate because the equity didn't build up enough in order to pay off those things in the mortgage.  in areas where values are skyrocketing its pretty easy & quick to build a large amount of equity so you could pay off a whole bunch of stuff refinancing & still come out well ahead because of the massive amount of equity you have built into the property.  People can buy an investment property here, sell it in a couple years and make well over 100k from the equity (hard to do that in other parts of the country).  So it is without a doubt harder for someone to afford a home in our areas (and more needs to be done on affordable housing) their are other advantages that people in NY, CA, WA, MA, CT (& other areas with high values) have that people in other parts of the country don't have such as very quick equity buildup

[??????????]

Manufactured home - 50-75k
Wood Frame House (older) - 60-75k
Block House (old) - 80-90k
Block House (new) - 90-125k

You can still buy a very large house for a rather low price still around here. Some of our old Victorian homes here in town are selling for 125-160k. Land is where the real money is at around here.

They also don't build many wooden homes around here as the termite problem in Florida is absolutely horrendous. We have termites here that can make a house structuraly unsound in under 3 years.

[phk]

Manufactured home - 50-75k
Wood Frame House (older) - 60-75k
Block House (old) - 80-90k
Block House (new) - 90-125k

You can still buy a very large house for a rather low price still around here. Some of our old Victorian homes here in town are selling for 125-160k. Land is where the real money is at around here.

They also don't build many wooden homes around here as the termite problem in Florida is absolutely horrendous. We have termites here that can make a house structuraly unsound in under 3 years.

You didn't list the trailer homes.

[??????????]

Manufactured home - 50-75k
Wood Frame House (older) - 60-75k
Block House (old) - 80-90k
Block House (new) - 90-125k

You can still buy a very large house for a rather low price still around here. Some of our old Victorian homes here in town are selling for 125-160k. Land is where the real money is at around here.

They also don't build many wooden homes around here as the termite problem in Florida is absolutely horrendous. We have termites here that can make a house structuraly unsound in under 3 years.

You didn't list the trailer homes.

Do you have anything to actually add to this forum? Or are you happy to just be a first class troll?

[Capey]

Prices vary greatly here. A home in the southern suburbs is probably about R3,000,000, or 450,000 USD. A house in the northern suburbs will cost around R1,000,000 or 160,000 USD. A house in Clifton is going to set you back about R7,000,000 or 1,200,000 USD.

Of course you could always find a shanty in Cape Flats for a few dollars.

[danwxman]

Property values vary wildly in this area. In my neighborhood, homes go for about 100,000-150,000. There's a super-rich neighborhood nearby where some homes go for nearly 2 million. Then there's some older houses built when this area was mostly rural/just starting to develop that go for about 60,000-70,000.

[TeePee4Prez]

NE Philly:

South of Cottman Ave.:

Rows: 70,000 to 110,000
Twins: 110,000 to 140,000
Singles (though not many): 140,000+

North of Cottman Ave:

Rows: 120,000 to 200,000
Twins: 160,000 to 250,000
Singles(a lot more prevalent): 250,000+.  Some as high as 600,000

House I live in: Twin approx. worth 210,000 to 220,000.

[Filuwaúrdjan]

Too much

[George W. Bush]

In the City and Rural areas, 90,000. The Suburbs anywhere from 300K to 1 Million +

[Jake]

My family's house was 80K in 1994 was is worth around 225K now.  The average price in town is around 175K and in the boonies it's about 125K.

[Dave from Michigan]

in my city around 200,000 some less some closer to 300,000, but they are small houses.  there are some that are more like 500,000.  House are more expensive in my town mostly due to the city having a downtown are of small shops and restaurants.  you could move to the city south and east of here and by the same size house for less.

[The Dowager Mod]

I bought this one 4 years ago for 190,000
about average for this town i think.

[Bleeding heart conservative, HTMLdon]

My old neighborhood - $40-45k

my new neighborhood - $70-90k.

Avg. home price in the whole city is $154k.

[bullmoose88]

Hmm...my township? (I live in a small house)

about a 1500 sqft house, unimproved, .25 acres: $150,000.

Improved (Hardwood floors, new siding etc) around 200,000.

I wouldn't have believed it myself unless I looked at the local home listings.

Upper Bucks is still relatively cheap (lots of land) but central and lower bucks (outside of Bristol) is pretty expensive real estate.

[Keystone Phil]

Upper Bucks is still relatively cheap (lots of land) but central and lower bucks (outside of Bristol) is pretty expensive real estate.

Bristol is trash. Otherwise, Bucks is a nice area.

[bullmoose88]

Upper Bucks is still relatively cheap (lots of land) but central and lower bucks (outside of Bristol) is pretty expensive real estate.

Bristol is trash. Otherwise, Bucks is a nice area.

Bristol is like any urban like area. Some areas are decent...others...well wear a fanny pack under your shirt to hold your money.