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  #1  
Old Posted May 11, 2021, 10:57 PM
Camelback Camelback is offline
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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:
from April 2020 to April 2021:

85249 in Chandler - Home prices are up 43-percent
85201 in Mesa - Home prices are up 43-percent
85268 in Fountain Hills - Home prices are up 47-percent
85255 in Scottsdale - Home prices are up up 51-percent
85253 in Paradise Valley - Home prices are up 59-percent
https://www.azfamily.com/news/phoeni...lock_id=997197
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  #2  
Old Posted May 11, 2021, 11:03 PM
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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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  #3  
Old Posted May 11, 2021, 11:13 PM
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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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  #4  
Old Posted May 11, 2021, 11:22 PM
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Isn't this entire board about real estate?
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  #5  
Old Posted May 11, 2021, 11:47 PM
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Quote:
In April 2021, Tucson home prices were up 19.7% compared to last year, selling for a median price of $280K. On average, homes in Tucson sell after 38 days on the market compared to 45 days last year. There were 1,284 homes sold in April this year, up from 1,035 last year.
https://www.redfin.com/city/19459/AZ...et#home_prices
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  #6  
Old Posted May 11, 2021, 11:52 PM
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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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  #7  
Old Posted May 11, 2021, 11:53 PM
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Quote:
In April 2021, Houston home prices were up 22.4% compared to last year, selling for a median price of $290K. On average, homes in Houston sell after 23 days on the market compared to 36 days last year. There were 3,425 homes sold in April this year, up from 2,031 last year.
There are hardly any houses for sale in my neighborhood.
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  #8  
Old Posted May 12, 2021, 12:03 AM
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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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  #9  
Old Posted May 12, 2021, 12:25 AM
bossabreezes bossabreezes is offline
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Quote:
Originally Posted by pdxtex View Post
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....
Im actually shocked at how affordable that is. Thats a good thing actually. Do you see any exchange of people from Seattle moving to Portland for cheaper cost of living?

I don't even need to ask about Californians, Im sure if you swing your arms you'd hit one.
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  #10  
Old Posted May 12, 2021, 12:47 AM
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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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  #11  
Old Posted May 12, 2021, 1:50 AM
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Quote:
It’s a Home in Brooklyn. What Could It Cost? $100,000?
By Mihir Zaveri
May 11, 2021
Updated 9:38 p.m. ET

Do you know the median sales price for a home in Brooklyn?

The question, which was recently posed to eight mayoral candidates by The New York Times editorial board, was not a trick. Brooklyn is a notoriously expensive borough in one of America’s most expensive cities, and New York City’s housing crisis promises to be a major issue in the coming years.

Yet the range of responses given by two of the candidates — off by roughly an order of magnitude — has touched off incredulity among New Yorkers.

“In Brooklyn, huh? I don’t for sure,” Shaun Donovan, who has touted his experience as housing secretary under President Barack Obama and housing commissioner under Mayor Michael R. Bloomberg, answered. “I would guess it is around $100,000.”

The guess from Raymond J. McGuire, an investment banker and former executive at Citigroup who has sought to woo voters with his financial acumen, included similar numbers.

“It’s got to be somewhere in the $80,000 to $90,000 range, if not higher,” he said.

Eric Adams, the Brooklyn borough president, said he believed the number was about $550,000. Maya Wiley, a former counsel to Mayor Bill de Blasio, guessed $1.8 million. Only Andrew Yang, who has been criticized in the past for seeming out of touch with the city’s issues, guessed correctly: $900,000.

Kathryn Garcia, a former sanitation commissioner, guessed $800,000; Dianne Morales, a former nonprofit executive, $500,000; and Scott M. Stringer, the city comptroller, $1 million.


While Mr. Donovan and Mr. McGuire are not considered among the leading candidates in the race, it was their answers that drew the most attention, with many people suggesting that they did not have a grasp on the problems of working people. As several people pointed out on social media, among the things that can be purchased in Brooklyn for $100,000 or less, according to the website Zillow: a parking space and two vacant lots . . . .

Nicole Gelinas, a senior fellow with the Manhattan Institute who is focused on urban economics and infrastructure, said the more inaccurate answers showed “a real sense of being out of touch with what’s going on in the city,” particularly regarding affordability.

She said the last time the median home price in Brooklyn was around $100,000 may have been in the 1980s . . . .

She said that the candidates’ answers could hurt them politically, particularly as many voters in New York City seem to not be paying attention to the mayoral race and have, according to polls, not decided who they are voting for.

“This is going to be the way that a lot of people are introduced to McGuire and Donovan,” she said.
https://www.nytimes.com/2021/05/11/n...lyn-mayor.html
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  #12  
Old Posted May 12, 2021, 2:02 AM
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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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  #13  
Old Posted May 12, 2021, 2:06 AM
iheartthed iheartthed is offline
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Quote:
Originally Posted by Pedestrian View Post
Can't believe that someone running to be mayor of New York City would answer with a straight face that the median price in Brooklyn is $80k, $90k, or $100k, lol.

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.
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  #14  
Old Posted May 12, 2021, 2:17 AM
the urban politician the urban politician is offline
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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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  #15  
Old Posted May 12, 2021, 2:28 AM
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Quote:
Originally Posted by InlandEmpire View Post
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.
More pricey than the median home price in my ZIP code of 91030 (South Pasadena, CA):
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  #16  
Old Posted May 12, 2021, 2:48 AM
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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
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  #17  
Old Posted May 12, 2021, 3:12 AM
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my zip code (not that residential a zip code though, and perhaps skewed by a few larger luxury buildings)



Fortunately I bought near that dip .
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  #18  
Old Posted May 12, 2021, 3:21 AM
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Steely Dan Steely Dan is offline
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Quote:
Originally Posted by SIGSEGV View Post

Fortunately I bought near that dip .
Yep, as I said at the time, you're a very smart man.

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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  #19  
Old Posted May 12, 2021, 3:40 AM
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SIGSEGV SIGSEGV is offline
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Quote:
Originally Posted by Steely Dan View Post
Yep, as I said at the time, you're a very smart man.

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.
on the other hand, these are "seasonally-adjusted" numbers, who knows how well that holds up this year? But it does seem like much of the excess inventory downtown from last year is starting to clear based on number of sales (though there is also new construction... hard to tell!).

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 .
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  #20  
Old Posted May 12, 2021, 4:18 AM
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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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