Summer Housing Summary – What Can You Get for the Median Home Price in Different Markets

Cooler autumn weather tends to bring a cooler housing market than the spring and summer months. As we slip out of summer, it’s a good time to look back at the housing market trends over the past season.

According to the National Association of REALTORS, the median sales price for existing homes in June 2017 was $263,800. This price may be the median, but it is important to choose a home based on a monthly payment that you can afford. This mortgage calculator can help you see how much you should realistically pay for a home in your budget. There are also government loan programs that may help you purchase a home in your budget with a lower down payment. Make sure you know all of your options!

Depending on your market, the median price tag will get you some very different places around the nation. Take a look at the various properties around the U.S.

This 1,620 square foot home in Boca Raton, FL is under the median price at $255,000. Contact us, a mortgage lender in Florida, for information about how much you can afford!

Image source: Zillow

 

The dollar doesn’t stretch quite as far in the Los Angeles, CA housing market! This 616 square foot home is going for $254,900.

Image source: Zillow

 

In Rochelle Park, NJ,  $260,000 can get you this 3 bed / 2 bath home.

Image source: Zillow

 

In Long Island, NY, this 2 bed / 1 bath home is going for $255,000. We provide home loans in New York, and we are here to answer your questions!

Image source: Zillow

 

Denver, CO housing is becoming more expensive, but it is still possible to get this cute 1,591 square foot home for $260,000.

Image source: Zillow

 

Back east in Philadelphia, PA, you can score a 1,344 square foot home for $259,900.

Image source: Zillow

 

Your dollar will stretch quite a bit further in Austin, TX! This 1,788 square foot home with upgraded features is just going for $260,000.

Image source: Zillow

 

Looking for something with a little more space? $259,900 will get you this spacious 2,124 square foot house in Minneapolis, MN!

Image source: Zillow

 

If you want to be near the nation’s capital, you could get this 1,309 square foot condo in Alexandria, VA for just $254,900:

Image source: Zillow

 

If you are ready to start your home search process, contact us so see which loan program is right for you!

 

Sources: https://www.nar.realtor/infographics/june-2017-existing-home-sales-snapshot

www.zillow.com

 

 

2017-08-22T10:12:17+00:00 August 22nd, 2017|Categories: Market Trends, Mortgage Basics, News, Other|Tags: , |Comments Off on Summer Housing Summary – What Can You Get for the Median Home Price in Different Markets