We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The median home value in the Burlington-South Burlington metro area is $318,990. It's skewed by outliers, meaning that if an area has mostly three-bedroom and two-bedroom homes but a few mansions, those mansions will push up the mean price. The median home value in the New York-Newark-Jersey City metro area is a more moderate $485,812 since New York City prices have less of an impact when including data from a broader area. It is 7% smaller than the overall U.S. average. Mortgages on properties financed by government-insured loans, such as FHA This zip code in Cape May county saw a 27 percent increase in median list price from 2016 to 2017, while the average days a house stays on the market has decreased 38 percent. The median price of an existing home was $295,300 in June, up 3.5% from 2019. The median home value in the Wichita metro area is $145,644. Mortgage transactions on condominiums Alaska is the most seismically active part of the country and experiences 11% of all recorded earthquakes in the world. Not only are mortgage rates at all-time lows, but at just $107,064, median home values in West Virginia are lower than any other state in the U.S. The median home value in the Philadelphia-Camden-Wilmington metro area is $252,280. The following are average costs and prices reported back to us: Cost of Custom Home Building in New Jersey. The area's priciest properties, listed at $2 million to $5 million, are large tracts of land. On average, sellers could sell homes for 97.44% of the asking price—2.56% below the asking price on average. States Bureau of the Census with quarterly house resale data. Just to put some numbers behind how affordable home ownership can be in West Virginia, consider that the mortgage payment (including taxes and insurance) on the average West Virginia home would be just over $500 per month, assuming a 20% down payment. We also found it to be the worst state to retire because of poor rankings for healthcare and well-being. The median sale price for existing homes increased to $295,300 in June. In this example, the neighborhood is The median home value in the urban Honolulu metro area is $695,375. "The median home value in Ohio is $156,343, which makes it one of the cheaper places in the United States to buy a home. According to the 2019 U.S. Census, 82% of Jackson's population is Black or African American and 27% are living in poverty. According to the National Association of Realtors®, there were 18.2% fewer homes available for purchase in June 2020 than the year before.This has pushed house prices up, in spite of the recession and impact of COVID-19. One of the priciest homes on the market right now is a 14,000 square foot mansion on a five-acre lot for a mere $3.3 million. All rights reserved. Condo values rank third, after New York and California. The median list price per square foot in Newark is $135, which is lower than the New York-Newark-Jersey City Metro average of $294. Illinois, like Nevada, is a state where the median home and the median condo have almost the same value. Its median home price of $154,531 is among the lowest in the United States, and the record-low mortgage rates of under 3% on the average 30-year loan can make the monthly cost of ownership significantly cheaper than renting.". South Carolina's home values are a bit lower than North Carolina's, where the median is $210,766. Oklahoma has the country's fourth-lowest median home values and its condos have the lowest. Find average house prices, current average values, other historic property data & request a valuation from an estate agent. The median home value in the Charleston metro area is $96,433. Zillow has developed a sophisticated algorithm that tries to overcome the problems we've just described. An economist might say it's worth as much as someone is willing to pay for it.