What does $500,000 buy in your neighborhood?
Have you ever wondered what a middle of the market home here would be worth in other areas?
I thought it would be fun to take a look. So let's start in our own back yard. Currently in Bristow, the median price of a home is in the upper 400's. (Here is a link to all of the Bristow VA homes currently on the market.) So let's use that as a frame of reference and go shopping in some other areas.
Most times we think that our area is more expensive than others, but the truth is that there are a lot of areas both above our prices and below.
In the suburbs of Memphis TN lies Germantown. It is an upscale neighborhood that is well known by Memphis residents and "the" place to live. Check out what the same $500,000 get's you there. More square footage. More beds. More baths. Larger lots.
Pelham, New York
Located in Westchester County, Scarsdale, Pelham and many of the other areas are premier places to live for people that work in New York City but like a rural setting for life and family. What does $500,000 get you in Pelham NY? Check it out. You need to sort the page to find the LOWEST priced home on the market. It is $450,000 or so. How about that?
Let's go up to British Columbia and the lakefront community of Kelowna. It is by Lake Okanagan. $500,000 in the Kelowna real estate market gets you these homes or condos. Not a lot but more than New York.
Here is the bottom line. Real estate markets are all local. You can evaluate each market on it's own merits. But that said, when you look at our market, you really can get a lot for your money.