Home Values Hit All Time High
The combined value of every home in the United States is expected to climb to a record high of more than $29.6 trillion, up 5.7 percent from just one year ago.
If this seems like an unfathomable number, that’s because it is. Let's try to put it in perspective.
The U.S. housing market is now worth more than:
- The GDP of the United States and China combined
- The entire 2015 market cap of every U.S. public company combined (almost $25 trillion)
Plus it is now worth:
- 20x more than the net worth of the 50 richest Americans ($1.2 trillion)
- 20x more than 3,000 brand new Boeing 747-8s ($1.2 trillion)
In fact, it would take 339 people with the net worth of Bill Gates ($84 billion) to purchase every home in the United States!
For Jamaica Plain, MA in 2016, the total sales volume of all residential homes sold was $14 million higher than 2015 and the average sale price was $52,000 higher.
TOTAL RESIDENTIAL SALES FOR JAMAICA PLAIN
|Number of Homes Sold||561||538|
|Total Sales Volume||$333,775,651||$347,844,763|
For West Roxbury, MA in 2016, the total sales volume of all residential homes sold was $15 million higher than 2015 and the average sale price was $36,000 higher.
TOTAL RESIDENTIAL SALES FOR WEST ROXBURY
|Number of Homes Sold||367||364|
|Total Sales Volume||$174,512,324||$186,095,050|
It’s clear that our housing market is insanely valuable and your home’s value is a part of that. If you are wondering how this news has affected how much your home is worth, visit our home value page.
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