Housing bubble alert. With interest rates low and a lot of demand now is a great time to be a seller. The nice people over at Realtor.org have layered their market data that used to only come in Excel format onto Google Maps for a nice mashup, as the internet kids like to call it.
The data below gives you a quick view to the median price of a single family detached home in different metropolitan statistical areas. Did you catch all those loaded words there? Let’s break it down.
Just remember, buy low – sell high.
- Median – Not the average price, but the price in the middle.
- SFD – No condos, townhouses, lofts or anything where you have someone on the other side of your wall. Just houses on their own plots of land (a.k.a. living the dream). That also means those $20M two floor penthouse also doesn’t count. Stop thinking with your city brain.
- MSA – Your precious fancy neighborhood gets lumped in with some houses in New Jersey. Yes, there are more expensive zip codes out there, but a zip code does not make a self sustaining metropolitan area.
Behold this map:
View Metropolitan Sales Areas Q2 2013 in a larger map
