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Home Prices

TMW - 9-27-2007 at 07:33 AM

Article in the paper today about home prices around the world from money.usatoday.com. It said the average U.S. price was $422,343. In Warsaw it was $417,760, Montreal $252,350 and Mexico City $277,213. I am really surprised that Mexico City would be that high. The web site only gave the prices for three Mexican cities, all on the mainland.

What are the average home prices for La Paz and the Cabo area or TJ and Ensenada. I just find it hard to believe that Mexico would have that high of average home prices unless there are 10 billion dollar homes and thousands of $10,000 homes. Maybe I'm missing something. Anyone care to comment?

Bajaboy - 9-27-2007 at 08:07 AM

Stats can be deceiving...simple example:
10,000 + 1,000,000 = avg. home price is $505,000

The median price is a better indicator.

Zac

oldhippie - 9-27-2007 at 08:23 AM

The homes in the better areas of TJ are $150,000 and up. Mexican buyers, Americans tend to drive by TJ.

As you can see, there is quite a spread in prices, as there is quite a spread in quality of various neighborhoods.

http://www.bienesraicesenlinea.com.mx/_socios/mostrar.asp?ti...

[Edited on 9-27-2007 by oldhippie]

Bajajorge - 9-27-2007 at 08:51 AM

Houses around San Felipe run 200-500 Thousand depending on location and with electric or solar. Of course solar is less, but then I've seen some solar systems that will put a big dent in your construction budget.

Diver - 9-27-2007 at 09:02 AM

Property prices in Bahia Asuncion are nearing the $1 million mark !!!
Anyone wanna buy mine ?? :biggrin:

DianaT - 9-27-2007 at 10:00 AM

Quote:

Originally posted by Diver
Property prices in Bahia Asuncion are nearing the $1 million mark !!!
Anyone wanna buy mine ?? :biggrin:

But then there is one quite near yours on which a nice home has been built and it is only 1.5 million.

Boy, you need a Baja trip soon---you are really losing it. :lol:

John and Diane

edinnopolo - 9-27-2007 at 11:05 AM

Seems like only in the States there is a downtrend in the market. Read in the Toronto Star this morning that the prices all over Canada are still going up by an unbelievable average of 20% over last year. And the European market is still strong, according to several Papers from there I read daily. :fire:

comitan - 9-27-2007 at 11:16 AM

Its all Loreto Bays fault!!!

Mango - 9-27-2007 at 11:40 AM

Mexico City has some very nice neighborhoods. Coyoacán, which is just south of the city center, is a very nice older neighborhood home to many famous Mexicans in the past.

It is a city of contrasts; pitting old against new

Central business district.

Monterey and Mexico City are probably the two wealthiest cities in Mexico. There are some very rich people here. I'd show you photos of some of the nice houses; but, it would be a picture of a gate with a house in the distance. :lol:

For some cool areal photos of the area in and around DF, check out this site:

http://homepage.mac.com/helipilot/PhotoAlbum20.html

Hook - 9-27-2007 at 11:49 AM

Quote:

Originally posted by Diver
Property prices in Bahia Asuncion are nearing the $1 million mark !!!
Anyone wanna buy mine ?? :biggrin:

No thanks..............I hear it's a gringo enclave. :lol:

BajaBruno - 9-27-2007 at 12:16 PM

Thank you, Mango. I never leave Mex City without a visit to Coyoacán. It is a beautiful place with a lovely church and many trendy shops and cafes.

TW's article mentions only Mexico City and as BajaBoy mentions, statistics can be deceiving. My guess is that real estate reporting is not all-inclusive in DF and only the higher priced units make it onto the list. This will skew the results as BajaBoy describes.

Having said that, I might mention that my sister-in-law just bought a $300,000 condo in DF, so there is a lot of money in circulation, and high-end properties are finding favor with the wealthier Mexican buyers.

TMW - 9-29-2007 at 11:54 AM

Here is the list of prices around the world. It is the average per location. I would like to know the medium where half sold for more and half sold for less.

HIGHS AND LOWS IN THE USA

Average home sales price in 2007 (full chart):

Most expensive (millions)

Beverly Hills, Calif. $2.2

Greenwich, Conn. $2.0

La Jolla, Calif. $1.8

Santa Monica, Calif. $1.8

Newport Beach, Calif. $1.6

Santa Barbara, Calif. $1.6

Palo Alto, Calif. $1.5

San Mateo, Calif. $1.5

San Francisco $1.5

Boston $1.4

Least expensive

Killeen, Texas $136,725

Minot, N.D. $139,033

Arlington, Texas $139,175

Canton, Ohio $146,333

Muncie, Ind. $150,000

Topeka $150,075

Fort Worth $151,250

Tulsa. $153,750

Grayling, Mich. $155,000

Wichita $156,500

Source: Coldwell Banker Home Price Comparison index

FOREIGN HIGHS AND LOWS

Average 2007 sales prices of homes in U.S. dollars* (full chart):

Most expensive (millions)

Dublin $2.1

Milan, Italy $1.9

Rome $1.8

Paris $1.7

Cork County, Ireland $1.6

Florence, Italy $1.4

Galway County, Ireland $1.1

Limerick County, Ireland $1.1

Lisbon, Portugal $1.1

Sydney $0.9

Least expensive

Bogot, Colombia $140,100

Sharm El Sheikh, Egypt $144,896

Granada, Nicaragua $190,000

Panama City $201,333

Manama-Muharraq, Bahrain $230,500

Aruba $236,250

Suzhou, China $241,275

Guadalajara, Mexico $246,522

St. Julians, Malta $255,500

St. Andrew, Jamaica $273,061

* conversions done on oanda.com as of Sept. 7; Source: Coldwell Banker, Home Price Comparison index

TMW - 9-29-2007 at 12:00 PM

U.S. cities

Home comparison index for 317 U.S. markets
Updated 1d 22h ago | Comment | Recommend 6 E-mail | Save | Print |

Average home sales price in 2007 for a 2,200 square foot single-family dwelling with 4 bedrooms, 2 1/2 baths and 2 car garage for 317 U.S. markets.
Metro area/market State 2007 average sales price

Anchorage AK $340,302

Juneau AK $465,000

Huntsville AL $212,183

Mobile AL $232,375

Fayetteville AR $252,950

Fort Smith AR $183,950

Little Rock AR $217,310

Flagstaff AZ $476,353

Mesa AZ $257,467

Phoenix AZ $320,000

Scottsdale AZ $525,667

Tucson AZ $286,667

Bakersfield CA $396,686

Beverly Hills CA $2,206,883

Davis CA $611,010

Encinitas CA $741,250

Fremont CA $983,050

Fresno CA $381,333

Grass Valley CA $472,654

Irvine CA $823,750

La Jolla CA $1,800,000

Long Beach CA $1,000,442

Mission Viejo CA $814,500

Modesto CA $421,667

Monterey Peninsula CA $838,750

Napa CA $728,500

Newport Beach CA $1,617,500

Oakland CA $955,000

Palm Desert CA $461,250

Palo Alto CA $1,677,000

Palos Verdes CA $1,325,000

Pasadena CA $975,000

Pleasanton CA $870,000

Rancho Bernardo CA $686,667

Riverside CA $435,000

Sacramento CA $380,625

San Diego CA $618,750

San Francisco CA $1,451,250

San Jose CA $1,145,000

San Mateo CA $1,498,023

San Rafael CA $845,000

Santa Barbara CA $1,599,667

Santa Clarita CA $647,708

Santa Cruz CA $849,667

Santa Maria CA $484,000

Santa Monica CA $1,785,000

Santa Rosa CA $721,667

Thousand Oaks CA $1,001,538

Walnut Creek CA $874,000

Boulder CO $615,000

Colorado Springs CO $197,500

Denver CO $400,000

Fort Collins CO $236,100

Highlands Ranch CO $367,500

Danbury CT $527,225

Fairfield CT $635,500

Greenwich CT $2,018,750

Milford CT $450,725

Old Lyme CT $607,500

West Hartford CT $365,000

Wilmington DE $414,500

Boca Raton FL $531,250

Clearwater FL $349,000

Ft. Lauderdale FL $462,125

Ft. Myers FL $353,317

Gainesville FL $305,750

Jacksonville FL $340,353

Key West FL $929,818

Miami FL $638,333

Naples FL $450,333

Orlando FL $407,000

Ormond Beach FL $325,442

Panama City FL $329,689

Pensacola FL $241,632

Port Charlotte FL $239,100

Sarasota FL $367,500

Tallahassee FL $354,538

Tampa FL $350,000

West Palm Beach FL $393,750

Athens GA $248,633

Atlanta GA $324,000

Columbus GA $250,750

Dalton GA $182,500

Macon GA $165,440

Savannah GA $268,900

Honolulu HI $843,750

Kihei, Maui HI $963,000

Des Moines IA $260,275

Dubuque IA $200,600

Iowa City IA $212,855

Sioux City IA $184,000

Boise ID $250,400

Coeur d' Alene ID $250,370

Aurora IL $311,333

Barrington IL $583,500

Bloomington IL $230,500

Carol Stream IL $354,333

Champaign IL $236,917

Chicago IL $732,333

Deerfield IL $600,000

Elgin IL $308,500

Flossmoor IL $319,667

Galena IL $221,000

Joliet IL $258,333

Naperville IL $375,859

Orland Park IL $369,875

Peoria IL $214,625

Rockford IL $199,875

Schaumburg IL $336,850

Springfield IL $220,617

Evansville IN $179,822

Fort Wayne IN $182,212

Indianapolis IN $200,343

Muncie IN $150,000

Munster IN $341,667

Schererville IN $259,375

South Bend IN $180,500

Valpariso IN $250,475

Lawrence KS $232,300

Leavenworth KS $212,833

Overland Park KS $201,650

Topeka KS $150,075

Wichita KS $156,500

Florence KY $209,579

Lexington KY $234,500

Louisville KY $238,000

Baton Rouge LA $250,444

Lafayette LA $232,467

New Orleans LA $310,875

Shreveport LA $225,750

Acton MA $592,642

Boston MA $1,381,250

Cape Cod MA $659,000

Framingham MA $500,167

Lexington MA $721,250

Northampton MA $382,000

Springfield MA $369,000

Taunton MA $392,500

Wellesley MA $1,193,750

Worcester MA $286,000

Annapolis MD $600,750

Baltimore MD $556,000

Bel Air MD $401,500

Bethesda MD $950,000

Columbia MD $480,500

Easton MD $384,500

Frederick MD $415,000

Hagerstown MD $316,450

Towson MD $401,250

Waldorf MD $406,267

Westminster MD $390,000

Augusta ME $157,400

Lewiston ME $244,500

Portland ME $354,000

Ann Arbor MI $303,750

Cadillac MI $212,450

Detroit MI $248,750

Grand Blanc MI $208,333

Grand Rapids MI $183,433

Grayling MI $155,000

Indian River MI $245,500

Jackson MI $174,046

Kalamazoo MI $228,450

Lake Orion MI $255,394

Lansing MI $263,500

Midland MI $210,500

Mt. Pleasant MI $192,075

Petoskey MI $259,967

Port Huron MI $209,373

Traverse City MI $230,667

Edina MN $434,975

Lake Minnetonka MN $399,150

Mankato MN $261,000

Minneapolis MN $415,767

Rochester MN $211,329

St. Cloud MN $264,600

St. Paul MN $402,767

Kansas City MO $238,875

Springfield MO $189,650

St. Louis MO $225,875

Gulfport/ Biloxi MS $204,500

Jackson MS $244,000

Tupelo MS $179,125

Billings MT $168,542

Bozeman MT $341,212

Great Falls MT $183,000

Helena MT $249,700

Kalispell MT $207,750

Charlotte NC $258,780

Fayetteville NC $206,017

Greensboro NC $182,178

Raleigh NC $238,000

Wilmington NC $339,082

Winston-Salem NC $228,900

Bismarck ND $199,662

Fargo ND $217,890

Minot ND $139,033

Kearney NE $208,250

Norfolk NE $212,250

North Platte NE $195,762

Hanover NH $496,000

Nashua NH $367,500

Portsmouth NH $283,000

Basking Ridge NJ $679,333

Bridgewater NJ $594,333

Cherry Hill NJ $287,167

Clinton NJ $491,250

Edison NJ $500,500

Madison NJ $709,250

Marlboro NJ $485,000

Montclair NJ $546,950

Mt. Laurel NJ $353,800

Princeton Junction NJ $569,375

Ridgewood NJ $1,006,250

Sparta NJ $528,125

Toms River NJ $450,396

Warren NJ $820,000

Wayne NJ $581,000

Westfield NJ $690,875

Albuquerque NM $317,319

Santa Fe NM $640,062

Las Vegas NV $362,188

Reno NV $384,500

Albany NY $343,615

Binghamton NY $193,382

Buffalo NY $248,575

Katonah NY $904,750

Long Island NY $640,000

Middletown NY $400,667

Queens NY $677,250

Rochester NY $268,600

Rye NY $876,875

Staten Island NY $531,700

Syracuse NY $214,725

Akron OH $183,100

Canton OH $146,333

Cincinnati OH $250,530

Cleveland OH $213,833

Columbus OH $238,170

Dayton OH $179,750

Harrison OH $205,300

Toledo OH $163,278

Oklahoma City OK $193,750

Tulsa OK $153,750

Bend OR $359,750

Eugene OR $361,982

Medford OR $433,250

Portland OR $317,500

Salem OR $311,567

Allentown PA $359,667

Conshohocken PA $405,000

Doylestown PA $472,475

Erie PA $205,475

Harrisburg PA $279,633

Lancaster PA $281,525

Media PA $337,175

Philadelphia PA $515,225

Pittsburgh PA $263,964

Reading PA $262,494

Stroudsburg PA $283,375

Westchester PA $344,341

York PA $283,333

Puerto Rico PR $357,500

Providence RI $483,333

Charleston SC $389,750

Columbia SC $198,967

Greenville SC $208,020

Myrtle Beach SC $273,750

Rapid City SD $197,600

Chattanooga TN $230,451

Knoxville TN $202,450

Memphis TN $191,936

Nashville TN $238,333

Amarillo TX $188,634

Arlington TX $139,175

Austin TX $243,250

College Station TX $209,044

Corpus Christi TX $183,625

Dallas TX $302,198

El Paso TX $229,306

Fort Worth TX $151,250

Houston TX $169,736

Killeen TX $136,725

Lubbock TX $163,250

Plano TX $204,144

San Antonio TX $258,166

Provo UT $363,975

Salt Lake City UT $408,125

Alexandria VA $771,500

Leesburg VA $545,000

Lynchburg VA $275,269

Richmond VA $360,792

Roanoke/Blacksburg VA $292,250

Vienna VA $766,333

Virginia Beach VA $398,663

Winchester VA $309,000

Woodbridge VA $465,000

Burlington VT $373,475

Montpelier VT $336,333

Rutland VT $291,718

Bellevue WA $763,667

Seattle WA $555,839

Spokane WA $286,250

Tacoma WA $375,750

Tri-Cities WA $228,988

Appleton WI $182,400

Eau Claire WI $158,650

Fond du lac WI $234,645

Green Bay WI $266,150

Madison WI $264,950

Milwaukee WI $324,750

Wausau WI $199,370

Beckley WV $165,333

Charleston WV $176,625

Parkersburg WV $164,333

Cheyenne WY $225,956

Washington D.C. $808,500

TMW - 9-29-2007 at 12:05 PM

Home comparison index for international markets
Updated 3d 14h ago | Comment | Recommend E-mail | Save | Print |

Average home sales price in 2007 for a 2,200 square foot single-family dwelling with 4 bedrooms, 2 1/2 baths and 2 car garage for select international markets (in U.S. dollars with conversions done on oanda.com as of Sept. 7):
Country Market 2007 average sales price (U.S. dollars)1

Aruba Aruba $236,250

Australia Brisbane $657,464

Sydney $874,553

Perth $750,850

Bahrain Manama-Muharraq $230,500

Belize San Pedro $697,500

Canada Calgary $513,250

Edmonton $566,750

Burnaby $650,750

Vancouver $1,327,875

Winnipeg $344,868

Moncton $255,925

St. John's $209,000

Halifax $253,500

Toronto $862,674

Brantford $268,750

Charlottetown $157,630

Montreal $252,350

Saskatoon $211,666

Whitehorse $326,250

China Beijing $709,687

Hangzhou $870,996

Shanghai $774,799

Suzhou $241,275

Colombia Bogotá $140,100

Costa Rica San Jose $389,900

Egypt Cairo $328,719

Sharm El Sheikh $144,896

France Lyon $650,485

Marseilles $547,039

Nice $563,080

Paris $1,677,878

Honduras Tegucigalpa $377,500

Ireland Cork County $1,630,061

Dublin $2,133,891

Galway County $1,124,987

Limerick County $1,091,283

Italy Milan $1,917,195

Florence $1,352,167

Rome $1,793,838

Jamaica St. Andrew $273,061

Japan Tokyo $780,346

Malta Attard $274,200

Marsascala $294,250

VSt. Julians $255,500

Mexico Guadalajara $246,522

Mexico City $277,213

Monterrey $274,043

Netherlands Amsterdam $537,148

Nicaragua Granada $190,000

Panama Panama City $201,333

Poland Cracow $368,527

Gdansk $283,792

Warsaw $479,000

Portugal Algarve $383,878

Cascais $526,758

Lisbon $1,053,584

Romania Bucharest $607,200

Singapore Singapore $1,039,545

Spain Madrid $1,135,351

Seville $906,009

Valencia $774,613

St. Croix Christiansted $702,500

Turkey Istanbul $417,760

United Arab Emirates Dubai $1,127,459

1 - conversions done on oanda.com as of Sept. 7; Source: Coldwell Banker, Home Price Comparison index

TMW - 9-29-2007 at 12:06 PM

I guess the key to these homes is that they are 2200 sq ft.

Marie-Rose - 9-29-2007 at 03:53 PM

I'm not sure about any of the prices of homes outside of Canada but I can tell you that I KNOW the average price of homes in Edmonton are not as high as the homes in Calgary and although the homes are expensive in Vancouver I find it hard to believe that the average home of the stated size is 1,350,000. Seems a bit excessiveto me.

Having said that, maybe the other prices are not realistic either.

Bajaboy - 9-29-2007 at 03:55 PM

Again, these are averages and not the median. Basically they are useless figures...well, I suppose they are trivial figures.

Zac

capn.sharky - 9-30-2007 at 08:25 AM

Mango---I went to your photo site. God!!!! I knew Mexico City was big...but I had no idea just how big until I saw your beautiful pictures. Thank you for sharing. Loreto looks better to me now.

Eli - 9-30-2007 at 10:09 AM

When reviewing the cost of building a very special beach front home or even a fine custom home with a view of the playa in Southern Baja California I suggest one reflects on the cost for the same type of structure and property in Malibu or Hawaii or Lake Tahoe, not Bum Truten Idaho; That way I think one will find the prices comparrison to be bit more realistic, for sure much more tolerable, actually the deal of the century. If If you want to build a simpe little cracker box for Bodaken Oregon prices look inland, Agua Caliente for example and build accordingly.

BajaBruno - 9-30-2007 at 09:58 PM

I humbly disagree as to the relevancy, or lack thereof, of the mean versus the median. [For a refresher, mean= what most people call the "average," while median = the numeric "middle value" in a string of data.]

In a large, well distributed sample, the two statistics should be near each other. In a small, skewed sample with outliers, the median may give a more realistic idea of the center, but in the large cities represented above, lack of data is not a problem.

Real estate statisticians do typically use the median, because it is not sensitive to outliers, but in the real world, the mean is just as relevant.

shari - 10-1-2007 at 10:11 AM

Holy house prices...man am I ever out of the loop...pysically, psycologically and definately economically....OK so here is our reality....house prices in Asuncion....between $5,000 and $150,000.....now that's more like it!

[Edited on 10-2-2007 by shari]

vandenberg - 10-1-2007 at 10:13 AM

Quote:

Originally posted by shari
house prices in Asuncion....between $5,000 and $30,000.....

Whaaat

Did Trump move in :?:

Tiomiguel - 10-3-2007 at 04:11 PM

Hey house prices in normal Ontario have not really increased that much in the past year. In fact the market is definately slowing down as well. Shari, Just sent you an email. Can you take a look and get back at me.

Cypress - 10-4-2007 at 01:43 PM

Guess it all depends upon whether you're buying or selling. :biggrin: