03/23/2024
According to a recent report, the inventory of homes priced between $200,000 and $350,000 has surged by 20.6% compared to the same month last year, surpassing growth in all other price brackets.
Within this range, the median price stands at $285,000, representing substantial savings of $130,500 compared to the overall median home price.
So where are all these modestly priced homes hiding? Mainly in the South, which typically has more affordable listings than other parts of the country. The South’s recent surge in budget-friendly listings is a substantial increase from just a few years earlier. It now accounts for over half of America’s available inventory in the $200,000–$350,000 range.
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