In order to analyze the market value of owned homes by region we have broken the national population into the following categories:
Some very interesting items came out of this analysis. The first items that stands out of course that the average market value of a home owned by someone in the West is still the highest coming in at $208,675 representing a 16.9% increase from the $178k average value back in 2004. Likewise it is not surprising to see that a home in the Northeast that was worth $165,646 back in 2004 was worth $180,439 in 2013 representing a 8.9% increase during the same time period.
What stood out during this analysis however was that the market value of a home in the South has actually seen the greatest percentage increase of 23.9% during the same ten year period. The Midwest came in with a 3.9% decline in the average market value of a home. We feel that this has to do with the steady movement of folks away from the Northeast and West to the South.
Cuyahoga County in the State of Ohio falls squarely in the mid west - while the greater Cleveland area certainly enjoys better price appreciation then the rest of the State of Ohio, the fact that home values have not increased in this part of the county as much as they have in other areas, is something that is not lost on Andy and Jose.
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