Harold Hudson on Sep 10th, 2019
The national median list price is $289,000. Median means middle; half of all homes on the market in the U.S. are listed at above $289,000, and the other half are listed below $289,000.
The median list price is a good metric to use to compare housing markets or to evaluate individual properties. It helps answer the question, how much can I get for my money in city A versus city B? For real estate investors, it provides a good starting point to determine if a property is likely to increase or decrease in value.
With a median list price of $265,000 in Georgia, your dollar goes further in the Peach State than it will in most other housing markets. Per the Atlanta Journal-Constitution, $289,000 will get you an opulent 3 bedroom, 3 bath, 1,700 square-foot home in Gresham Park complete with two-double decks and a full basement.
Compare that with what paying the national median list price will get you in Seattle — a 2 bedroom, 1 bath, 1,050 square foot home that’s considered “ideal for major rehabbing or possibly being torn down” — and it’s easy to see why Atlanta is one of the best big cities for first-time homebuyers in the country.
Atlanta is just a notch above the national average in terms of cost of living, per BestPlace’s 2019 Cost of Living Calculator, but it more than makes up for it with a job market that’s growing far faster than comparable cities.
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***The article has been prepared for informational purposes only and are not legal advice. This information is not intended to create, and receipt of it does not constitute, an attorney-client relationship. You should not act upon this information without seeking professional counsel. You should consult an attorney for individual advice regarding your own situation.