Real Estate in your city
What's the Real Estate situation in your city?
In Phoenix it has been HOTTER than the pavement in July. It's hawt. Median price is $360,000, cheaper than some other areas, but that's high for Arizona. I saw these zip code stats on a local news website that I'd like to share with the group: Quote:
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It's insane to say the least. From April 2020 to April 2021 the average price went up 61%, among the highest increases in Canada. The average home now sells for $572,000.
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Ye olde redfin says Portland is "somewhat" competitive and the median sales price is 530k, up 17 percent from last year. On the ground, I'd say things are starting to loosen up a bit. Inventory is increasing and I'm still seeing livable spots in the mid 300s. Not bad a big west coast city. With all the bad press Portland continues to get maybe it will take some of the heat of the housing. Probably not for long tho...bubble coming??? I dunno....
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Isn't this entire board about real estate?
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https://uniim1.shutterfly.com/ng/ser...777123/enhance
https://www.sfchronicle.com/local/ar...a-16091650.php People want to live in the suburbs . . . for now. I think this trend will reverse when city life and economic life returns to normal. |
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Here's a sample of "Real estate in my city."
HOME OF THE WEEK: A BEAUTIFUL 1909 CRAFTSMAN HOME LOCATED ON MONTEREY ROAD, SOUTH PASADENA Link: https://www.pasadenanow.com/weekendr...outh-pasadena/ |
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I don't even need to ask about Californians, Im sure if you swing your arms you'd hit one. |
According to Redfin, my zip code 98033 - Kirkland WA, median home price is now $1,605,000. Average # of days on market is 6, which is a 20% increase in time on market over this time last year.
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being in the low-key and low-growth midwest, chicagoland hasn't entered silly territory like much of the nation.
zillow says the chicago metro area median home value is a very normal $270K, which is up 9.5% in the past year. source: https://www.zillow.com/chicago-naper...3/home-values/ |
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Eric Adams' answer was a little more realistic, except for the fact that he's the fucking Brooklyn borough president, so this should be something you'd think he'd know off bat. |
For Chicago:
SFH: through the stratosphere (for the Midwest), particularly the suburbs For Landlords: Fucked over royally and praying for an end to the pain For hotels: see above |
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https://live.staticflickr.com/65535/...3d987803_h.jpg |
According to Redfin (not sure how reputable of a source that is) median price in Denver is $545K - up 20% from last year.
https://www.redfin.com/city/5155/CO/...housing-market The housing crisis here is constantly in the local news. Everyone’s freaking out about it. Those of you from expensive markets might see $545K and think, “but that’s cheap!” But for those of us that have been here a while, those kinds of numbers seem crazy. Random local news story that popped up first in the search results: Latest Denver-area housing market stats: Median single-family home price reaches $560K |
my zip code (not that residential a zip code though, and perhaps skewed by a few larger luxury buildings)
https://i.imgur.com/KX9caBW.png Fortunately I bought near that dip :). |
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Not that we didn't already know that, Mr. Physicist. ;) Didn't you get a 2 bed 1200 SF condo in the loop for like $300K? Ridiculous. |
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Either way, I cared more about finding a nice place to live for a price I could afford than real estate speculation, and so far I am happy :). |
The market value of my little 1400 sq ft 1960s home in Austin has increased now from $525K to $747K in only 1.5 years. A home in my neighborhood was sold for $125K over asking price yesterday, and it will have to be completely renovated. It sold for $806K. I saw the photos and they were frightening. Many homes in the neighborhood, even 1950s and 1960s homes, are selling for well over $1M. Those are usually larger than mine. I get daily updates from my realtor neighbor. He says there's almost no inventory, so people will pay whatever it takes to get this close-in location. They're coming not only from the east and west coasts, but also from within the state.
The bidding wars are so hot in the city that homes get contracts (usually cash) before a sign is put out in the yard. I have received letters almost demanding that I sell. To me it's nuts but I also understand why it's happening. I really don't know what's happening in the Austin suburbs. I'm pretty sure things are pretty hot there as well, although not to the extent as here in the city. |
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