Miami, FL (PRWEB) October 09, 2012
eReal Estate Holdings LLC, operator of leading real estate portals Condo.com, Houses.com, and Property.com today released an analysis of single-family home prices in major U.S. metros. The analysis uses infographics to depict median sales prices of 9 metro areas, and provides the 5 most expensive and least expensive metros to buy a home according to 2nd quarter home sales data.
Among the top most populated metropolitan cities shown on the infographic, homes in California, Hawaii and New York are the most expensive. San Jose, California, has the dubious honor of being the No. 1 most expensive metro, coming in with a median sales price of $660,000. Rounding out the top 5 list of highest median sales prices is New York, which came in No. 5 at $429,900 and is the only East Coast city on the list.
Finding the least expensive areas to buy a home is not too hard when all 5 are all located in the Midwest within Michigan, Ohio, Indiana and Illinois. The Midwest region was also hit hard with some of the highest unemployment rates in the country.
Higher median incomes and lower unemployment apparently have a lot to do with higher median home prices. Take a look at single-family homes in San Jose and San Francisco, 2 of the cities on the “5 Most Expensive Metros to Buy” infographic that also happen to have higher employment rates due to expansive technology markets, according to U.S. Census data.
Perhaps the most notable conclusion of the analysis is the discrepancy in home values between the most and least expensive metros. The infographic shows a near 1,000 percent difference in value between homes in San Jose and Detroit. It is clear that some parts of the country still have a long way to go with respect to seeing growth and a return to pre-real estate-bust home values.
About eReal Estate Holdings
eReal Estate Holdings LLC owns and / or operates the category-defining portals Condo.com, Houses.com, Property.com and Location.com. These real estate portals are the world’s largest online marketplaces for real estate with more than 30 million properties for sale, rent and vacation in the United States and 70-plus countries around the world. The sites receive more than 1.5 million visitors per month, and cost-effectively deliver exposure and qualified leads to builders, real estate professionals and homeowners. In addition to property for sale and properties for rent, site visitors have access to a wide variety of real estate-related products and services, including mortgages, credit repair, home improvement, moving and more. Location.com will be launched in October 2012 in order to capitalize on the rapid growth of location-based advertising and search.
The privately held eReal Estate Holdings LLC is headquartered in Miami, Florida. For more information, please visit Condo.com (http://www.condo.com), Houses.com (http://www.houses.com), Property.com and Location.com.