In the always changing landscape of real estate, understanding the average home prices across states can provide valuable insights into the housing market’s health and trends. Using data from the Zillow Home Value Index, GOBankingRates recently conducted a study to determine the average home prices in each state, comparing the median home values of August 2023 with those of August 2022.
Delaware Stats:
- August 2022 Median Home Value: $361,899.77
- August 2023 Median Home Value: $371,609.08
- Year-over-Year Percentage Change: 2.68%
This methodology allowed for a view of the year-over-year changes in both dollars and percentages for the Delaware real estate market. The data, collected and current as of October 11th, 2023, paints a picture of the real estate market, highlighting the states that have experienced significant growth and those where home values have remained relatively stable. However, it’s crucial to note that while these calculations offer valuable insights, they should not be considered a substitute for a certified appraisal when determining the precise value of a specific property. Real estate is a sometimes complicated field, and professional assessments remains the best method for accurate property valuation.