Housing prices in your area.

This popped up in my FB feed. Average house prices around Charleston, SC.

For reference, I used to live in Mt Pleasant, in a house I bought for $48k. 

I now live in Goose Creek, in a house I paid $170 for. 

What do the prices around you look like?

not surprised about the Charleston prices at all.  I grew up there and it's always been a really expensive place to live.  The outlying areas were more affordable back then.  Greenville SC, I always like to joke, is more like Charleston was when I was growing up.  But it too is getting too big too fast. 
 

of note, I am in Longwood. I do not own my house. I'd very much like to despite it's foibles just so I don't have to move again. Plus I like my neighbors. 

For whatever reason they don't have Wilmington, which is far and away the biggest city in Delaware.  Looking at that separately, Wilmington values range from about $170,000 to $985,000.  Prices run from about $340,000-$440,000 for a nice Wilmington neighborhood.

Literally all over the map. Zillow says median house price $263k. Rocket shows $255k. Realtor.com shows $355k. Redfin shows BOTH $255k and $335k. 

What is interesting is they are showing the median cost per sq foot the same across the board at $161/sq ft, so the houses being sold are in the 1900-2100sq ft range

You all are making where I live in NJ look reasonable...

Central Kentucky housing was a relative bargain until about 2 years ago.  Then something flipped and houses and rents have literally doubled in the past 18 months.   It's absolutely out of control and starter homes are over 300K now.

I hope everyone likes having their kids live at home because they won't ever be able to move out unless they are 1%ers.

The media would have you believe that this is a Canada only problem. It looks like that's not accurate.

I live in a rural area near lake Erie that has traditionally been very affordable. In the recent boom, city people were selling their homes for a million plus, buying up here and pocketing the excess, resulting in a housing boom in some of the small towns. I can tell you that the locals are not happy.

I bought our current place in 2000 for $175k. It's in the farm category, and worth at least 1.5mil. My oldest son and his wife recently moved further out to Delhi, buying what I would only describe as a mansion for just under $900k. They listed their little bungalow in Waterford for $700k, and it sold in a day. They bought it ten years ago for $180k

We joked recently that our house is the only one in the area that's not for sale. Everything is for sale around here, including some really rough shacks on a few acres for close to a mil, hoping some city people will see it, think the land is a bargain and buy it.

Franklin County (greater Columbus, OH) is showing a median house price around $300k. Zillow says $291k and Rocket Mortgage says $304k.

My zip is averaging $536k according to Zillow. About $15k higher than the state average. 

KyAllroad said:

Central Kentucky housing was a relative bargain until about 2 years ago.  Then something flipped and houses and rents have literally doubled in the past 18 months.   It's absolutely out of control and starter homes are over 300K now.

 

I hope everyone likes having their kids live at home because they won't ever be able to move out unless they are 1%ers.

Replace "Central Kentucky" with "a vast majority of the country" and it's still true.  It's not local to your area. A lot of people are hostile or have directed their anger at "all these damn people moving here" or "them greedy developers" but that's not always the case.  Supply and demand got us all.

I live in an area that has saw population decline since the 1980's.  Here's my data:

It depends where in our valley you want to live. Median housing prices range from $333k to $585k across the different zip codes - I used to live in the first, now I live in the second. None of them are really sketchy areas, it's more along the lines of housing age, size and what you can see out the windows. Housing here is 1% lower than the national average.

The Zillow graph for my county closely tracks those posted above.  It appears that there continues to be relatively low inventory related to demand so prices continue to rise.  My gut is telling me there is a large scale imbalance and there will need to be a major correction at some point.  I also feel it's notable that nearly zero down, double morgates are making a comeback so people can continue to overpay even withought any savings.

I don't understand who is buying these houses right now.  Did everyone's salaries double in the last five years?  I may be bitter because I would like to "upgrade" to a bigger house, but I'm aparantly not wealthy enough to feel comfortable extending myself so far as to be able to get what I want.  If I more than double my current mortgage payment that would only buy a downgrade from where I'm at.  That seems nuts.  I have a feeling a lot of people wouldn't even buy their current homes (or be able to aford to) at current prices.  

That's way higher than I expected actually.  I live in Sticksville, USA, 45 minutes from any 'city', and well over 1.5hrs from Boston... 

I live in the very poor part of my county. Within 10 minutes from my door, you can buy a whole  neighborhood for $300k, or a McMansion that you can hear your neighbors fart from starting at $300k. 

We overpaid for our house in 2020 at $145k, but I couldn't buy the same size house and lot for under $225k right now.

I'm right near the water so there are houses ranging from 200k for an absolute run down shack to several million dollars. The spread is nuts.

Beer Baron 🍺 said:

Franklin County (greater Columbus, OH) is showing a median house price around $300k. Zillow says $291k and Rocket Mortgage says $304k.

Keeping in mind, of course, that includes areas ranging from where you hear gunshots every night to places where the .1% live. Right now Franklin County listings include houses ranging from $49k to $3.3M.

I think that delinquency will have some impact in the housing market eventually, however there are international organizations/groups/individuals that can impact and keep things steady, by buying.

A interesting read below, seems steady for the next 3 years, I am shocked that high interest rates haven't impacted immediately. I also think that a political change, would impact everything as I believe the past 4 years has been a real softball for a lot of the financial issues. I think the Presidential debates are going to stir it up.

National COMPREHENSIVE HOUSING MARKET ANALYSIS

I read an interesting article that opined that housing prices were going to bust in the next 5-10 years. 

The reasoning was that all the boomers were going to start dying off. Most of them owning homes means all of those houses would be hitting the market and we would have a glut because the next generations that will be house hunting are smaller and less inclined to leave the city. 

Japan had a similar problem from 1990 through about 2012 and still hasn't returned to its 1990 high. 

I could buy 4 houses where I live for the price of 1 where most of you live. That's why I choose to live where I do. 
 

I just bought a waterfront 3BR house for $300K. I could have bought it for $150K if it wasn't on the water. There are still houses available here for less than $100K. 
 

...but most of you wouldn't want to live here. 

The average is $161,941

Highest to lowest in the city of Goose Creek. These two houses are a little over 3 miles apart. 

$200k will buy you this. 3 bed, 1 bath, 1225 sqft. The lot is 8276 sqft. Or only slightly larger than the next house. 

$1.35m will buy this. 7 beds, 8 baths, 7995 sqft not counting the 6 car garage, sitting on one acre.

In reply to Toyman! :

... I am sorry.... did you type anything before "six car garage"....

Varies wildly by zip code. $500k is about the cheapest you'll find, though you can drive 15 mins and that jumps to 1.5M.