Cities with the most expensive homes in Farmington metro area
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. Given the current state of the real estate market, plays a determining role for buyers. As of April 4, 2023, the sits at 6.3%. As a result of higher mortgage rates across the board, home prices have risen significantly. The typical home value in the United States increased over the last year by 4.4% to $328,604.
Although home prices have inflated all across the U.S., there are definitely certain areas that have a higher price tag than others. Location, size, age, and condition are all contributing factors to home value. Whether you choose to hold off your home-buying plans in hopes of the market cooling down or are looking to buy ASAP, it's good to educate yourself on the market in different cities.
compiled a list of cities with the most expensive homes in Farmington using data from . Cities are ranked by the Zillow Home Values Index for all homes as of February 2023. The ZVHI represents a seasonally adjusted price for the middle market for all homes. All 5 cities and towns with data available were included in the list. Charts for each city show the monthly typical home value since January 2018.
