Average House Price

Doom and gloom articles are showing up every day in the newspaper when it comes to house values. Average house prices are falling! Reports all show that average house values have dropped since 2004. In October of ‘04, the average price for a single family home was $243,540, based on 23,466 loans from 77 lenders.

At that time, house values were on an upswing. In October 2003, the average house prices were $243,756. That means over the course of one year, home values increased approximately 8%, or about $20,000! That is a significant jump for one year. Some attribute this to the fact that most mortgage rates were around 6% at the time.

Home prices have been dropping, but with prices on such a skyrocket jump during the housing boom, weren’t prices bound to come back to earth as the markets normalized?

Today, the average house price is down in many areas across the country. This can be determined simply by watching homes that have sold in the newspaper. Curb appeal aside, do you know what the average home price is in your neighborhood, and how your home compares?

If you are wondering how the value of your home has changed in today’s housing market, it would behoove you to visit GetMyHomesValue.com today to get connected with a local real estate agent who is an expert in your market.

You may be a bit surprised at what your home might be worth. To get started in receiving a free home value estimate from a local real estate agent, visit GetMyHomesValue.com and type your zipcode in the box on the top right. Follow the instructions on the following page, and GetMyHomesValue will put you in touch with a local real estate agent to assist you with your needs.