When your property values are higher than what the average person pays for a home, it’s time to take a look at where your money could be going instead.
Trulia, a real estate research company, analyzed a sample of more than 10,000 homes sold in New York and San Francisco in 2018 and calculated how much of the money went to the buyer and how much went to lenders.
The analysis shows that the average house in New England is worth about $8.8 million, but the average price in the city is about $12 million.
That’s more than double the national average of $8 million.
The average price of a home in the Northeast region of the country is $9.8 Million, according to Trulia.
But the average home in California is about 40% more expensive than the national median.
The top 10 priciest houses in each region, in descending order, were all bought in New Jersey, with a median price of $2.4 million.
The 10th was bought in Texas with a price of about $3.6 million.
Trulia said that is the most expensive house in the entire U.S.