What are prices like in your area?
Discussion
Currently we're looking at 3-bed, 2-bath homes, 1000-1400 sq ft, reasonably close to the city (so not in brand-new developments on the outskirts), with a decent-sized yard. There's a reasonable amount of inventory in the $300k-400k range.
We're shooting for the lower end of that range, so we're waiting for the right one to pop up.
That doesn't actually sound so bad. Something like that is going for like $500k out here, now, and we live in the boonies.
Yeah it's definitely better here than in some places. Though the market is kinda slow for those homes because people don't want to lose their low interest rates from 2020-2022.
Prices on comparable homes are in the $250k-350k range in some other cities/towns where inventory is higher.
👀 That's actually a great deal. A house edging towards 1400 sq ft in my area would go for close to £750k+! Maybe even more now since so many people are trying to take advantage of the current low supply within the market.
That's what prices are like over in California right now. A lot depends on location. The outlying towns are booming until they get absorbed into the suburban sprawl (see Houston). In geographically limited regions like the Bay Area or LA, eventually you can't grow any more, so prices just go up.