Average house prices in each state | Buncreight | Blog

Average house prices in each state | Buncreight

whether you buy a home now or should wait, hoping for a significant drop in prices, you may be out of luck. The housing market generally follows the law of supply and demand, and because supply does not match demand, home prices remain fairly steady. Home prices usually rise over time, but they fluctuate in the short term.

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For example, seasonality plays a role: the median price in January was just $359,000 before beginning its steady rise to June $410,200, reflecting the fact that real estate buying and selling typically slows down during the colder months.

To understand how home prices vary by state, we analyzed Redfin's monthly real estate market data for June 2023. Median prices''North Dakota and Wyoming sales are based on ATTOM.

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