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44 Useful Property Price Statistics for 2024

By Blog

[vc_row][vc_column][vc_column_text]If you want to be a millionaire, you should consider investing in property. Real estate is one of the fastest and most reliable investment options –  but it doesn’t come without risks. 


The best way to be sure is to know the latest property price statistics and study the market before you invest money.

So, to help you understand the market and learn more about why you should consider investing in real estate, we gathered the most fascinating stats and facts.

Let’s dive right in with some…[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Remarkable Property Stats (Editor’s Choice)” font_container=”tag:h2|text_align:center” use_theme_fonts=”yes”][vc_column_text]

  • Local governments collected more than $1.6 trillion of revenue in 2016 through real estate in the US.
  • The average home in the US costs $226,000.
  • About 86% of US buyers opted for used homes in 2018.
  • The average commercial sale value in 2019 was $1.2 million.
  • More than 5 million houses are sold in the US each year.
  • The average monthly mortgage payment in the US is $1,030. 
  • More than 80.7% of the housing units are in urban areas

[/vc_column_text][vc_column_text]Stats will help you understand exactly how much you’ll need to buy a property and how much you’ll earn from it.

Now without much ado, let’s get started:[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”General Property Price Statistics” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes”][vc_column_text]

1. The average home price in the US is $226,000.

(Source: Zillow)

Residential property prices appear to be increasing at a rapid pace. That being said, the actual number may be higher or lower based on your city or state. 

2. Over five million homes are sold in the US every year.

(Source: Statista)

Property sales stats USA reveal plenty of Americans are looking to move house every year. 

3. There are 1.3 million agents in the US.

(Source: The National Association of Realtors)

With so many people looking to move, the number of real estate agents is also on the rise by as much as 5%. To be able to stake your claim and start your real estate career, check out our real estate job listing which covers various types and possibilities, as we’ll explore each opportunity in detail.

4. Agents usually charge 2.5% in commission.

(Source: Investopedia)

Which adds to the cost. However, some agents may be willing to bring it down to 2% or even lower. 

5. Monday is the best day to buy a house.

(Source: Redfin)

In contrast, Thursday is the best day to sell a house. Properties listed on Thursday earn $3,015 more on average.[/vc_column_text][vc_single_image image=”2311″ img_size=”large” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Residential Property Statistics and Facts” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes”][vc_column_text]

6. Hawaii is the most expensive state to buy property in.

(Source: Zillow)

The Aloha State is the most expensive state to buy property, with the median listing price at $635,000 and the cost per square foot at $521. 

7. West Virginia is the cheapest state to buy property in.

(Source: Zillow)

The Mountain State is the cheapest state to buy a residential property by far,  with the median listing price at only $166,488 and the cost per square foot is $98. 

8. Lafayette, IN, and Boston, MA, are the hottest markets. 


You don’t normally see these two cities listed side by side. But when it comes to real estate, that’s where it’s at!

9. Dallas, Houston, and Miami are the slowest markets. 

(Source: Redfin)

In yet another surprising stat, these three major cities don’t seem to attract too many new homebuyers. 

10. 86% of buyers go for used homes.

(Source: NAR Home Buyers and Sellers Generational Trends Report)

The vast majority of buyers opted for used homes in 2018, and only 14 percent of buyers chose new ones.

11. Prices have gone up by 7.2% since 2018.

(Source: Zillow)

The USA house price index is positive, as USA house prices have gradually increased over the last couple of years. 

12. About 33% of buyers in 2018 were first-time buyers.

(Source: NAR Home Buyers and Sellers Generational Trends Report)

This is an encouraging stat for anyone looking to stop paying the landlord for a monthly check, not to mention the occasional add ons for wear and tear. 

Which brings us to:[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”USA Property Buyer Demographics” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes”][vc_column_text]

13. 86% of people under 28 and about 52% of people between 29 and 38 were first-time buyers in 2018. 

(Source: NAR Home Buyers and Sellers Generational Trends Report, 2019

What’s more, 24% of buyers in 2018 were between 39 and 63, 14% were between 64 and 72, and 7% of buyers were between 73 and 93. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Commercial Property Statistics” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes”][vc_column_text]

14. The average commercial property price in 2019 was $1.2 million.

Source: National Association of Realtors)

If you thought a million bucks would buy you a decent office, you would’ve been dead wrong – it’s quite a bit higher than that.

15. There has been an 11% fall in commercial sales since 2018.

(Source: National Association of Realtors)

According to reports, the total dollar volume of commercial sales has decreased significantly since 2018. There was a fall of 11% in the large market (more than $2.5 million sales) and a fall of 8% in the small market (less than 2.5 million sales). 

16. Commercial property prices are increasing at a rate of 1.6% according to commercial property stats.

(Source: GreenSteetAdvisors)

The latest USA housing price trends underline steady growth in the property market.

17. Manhattan is the most expensive city in the US to buy commercial property with an average price of $10,000 per square foot. 

(Source: CNBC)

This should come as no surprise, given how popular New York City is. After all, everyone wants a piece of the Big Apple – but it’s very expensive. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Property Market Statistics” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes”][vc_column_text]

18. The residential US property market was worth $27 trillion in 2019.

(Source: The Basis Point)

What’s more, it is expected to increase this year. From that figure, household equity amounted to $16.4 trillion, with debt and household mortgages making up the remaining $10.9 trillion.

19. The commercial US property market was worth $16 trillion in 2018. 

(Source: Nareit)

According to the latest USA property price statistics, the upward trend remained consistent in 2019 and is unlikely to change in 2020.  

20. About 5.34 million homes were sold in the country in 2018.

(Source: Statista)

This is a little lower than the 5.51 homes in 2017. However, the figure is expected to get a boost and hit the 5.46 million mark in 2020. 

21. The average 20-year returns from commercial property sales in the US are 9.5%.

(Source: Investopedia)

In comparison, the average revenue from residential property sales amounts to 10.6%.

22. Real estate construction contributed over $1.15 trillion to the economic output in 2018. 

(Source: The Balance)

This equals to an impressive 6.2% of the country’s GDP. It is higher than 2017’s $1.13 trillion but lower than 2016’s record figure of $1.19 trillion. 

23. Local governments collected more than $1.6 trillion of revenue in 2016 through real estate. 

(Source: Tax Policy Center)

A major chunk of the revenue came through sales, property, and other taxes. [/vc_column_text][vc_single_image image=”2312″ img_size=”large” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Urban vs Rural Property Sales Statistics” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes”][vc_column_text]

24. Rural housing makes up 19.3% of all housing units. 


Rural and urban property sales statistics show that there are about 116.9 million occupied housing units in the country. About 19.3% of these are in rural areas, and about 80.7% are in urban areas. 

25. Homeownership rates in rural areas stand at 81.1%.


Rural Property sales statistics show that ownership rates are higher in rural areas than in urban areas. Homeownership statistics show the rate in rural areas is 81.1%, whereas the homeownership rate in urban areas is 59.8%. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Property Price Growth Statistics” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes”][vc_column_text]

26. The residential property price indices are going up.  

(Source: Fred)

At the onset of the great economic recession in 2008, the residential property price indices fell under 100. Residential property sales stats show that the market is currently recovering, with indices standing at 130 in 2019, slowly inching towards the high of 153 in 2015.  

27. The commercial property price indices are also on the up.

(Source: Statista)

In 2009, the indices fell under 100. Commercial property sales stats show that the market has recovered since then and currently stands at 184.9.   [/vc_column_text][vc_single_image image=”2313″ img_size=”large” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Property Prices vs Wages Statistics” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes”][vc_column_text]

28. The demand for luxury homes fell by about 1.6% in 2019. 

(Source: Redfin

This was due to a rise in overall prices, but it was only a small decline. 

29. The average rent in the country is $1,650. 

(Source: PWC Emerging Trends in Real Estate)

This amounts to approximately 30% of the average renter’s income. The cost of renting has grown by about 66%. 

30. It takes the average person about 6.5 years to save for a 20% mortgage downpayment. 

(Source: CNBC, PWC Emerging Trends in Real Estate, 2019)

What’s more, the average American spends over 50% of their earnings on purchasing a home. About 13% of buyers agree that saving for a downpayment is the most difficult step in the process. Despite this, only about 8% of buyers regret purchasing a house.

31. Rural renters find it difficult to pay rent, as they bring in a median income of $25,833. 

(Source: HousingWire)

For comparison, that’s about 48% less than the national average. This explains why there is less emphasis on renting in rural areas. [/vc_column_text][vc_single_image image=”2315″ img_size=”large” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Reasons for the Growth” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes”][vc_column_text]

32. The US population is growing at a rate of 0.7 percent. 

(Source: Google)

This compares to 0.8% in Canada and 1.2% in India. So, there is a need for more houses, which in turn increases demand. As a result, house prices go up. 

33. About 55% of the world’s population lives in urban areas. 

(Source: UN)

And the number is expected to reach 68% by 2050. This change is causing the prices to go up due to increased demand.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Loans for Property Buyers” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes”][vc_column_text]

34. About 58% of home buyers use their savings to make the downpayment.

(Source: NAR Home Buyers and Sellers Generational Trends Report, 2019)

About 39% opt for financing. Overall, about 88% of buyers financed their home purchase. 

35. The average monthly mortgage payment is $1,030. 

(Source: Washington Post)

According to the US Census Bureau on mortgage statistics, about 97% of buyers pay their mortgages on time. 

Now that we know the most important property price statistics for the US, let’s compare them with other countries with big real estate markets.

36. The Spanish real estate market was in bad condition until 2016. 

(Source: Global Property Guide)

House prices fell by an incredible 41.9% from 2007 to. 2015. However, things are currently improving, and prices increasing at an annual rate of 2.08%.  

37. The property market in the UK is dwindling. 

(Source: Land Registry)

The average price in the country is £234,370, and the index stands at 122.92. Prices are growing at a rate of 1.3%, which is a little slower than expected.

38. The Australia property market is highly volatile. 

(Source: CEIC)

It reached an all-time high in 2010 when it hit the 18.1% mark. However, 2018 showed a record low of -7.4%. The current average growth is 5.1% per quarter. 

39. India is one of the fastest-growing markets. 

(Source: Statista)

The growth rate of real estate across the country was estimated to be an incredible 11.2% from 2015 to 2020, up from about 10% from 2010 to 2015. 

40. Property prices in Dubai fell by 9.5% in 2018. 

(Source: Global Property Guide)

When adjusted for inflation, the average loss of house prices was about 8%. Apartment prices fell by about 9.65% and villa prices were down 8.97%. Housing price statistics show a downward trend due to lower investment in the country.    [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Top 5 Cities With the Highest Average Property Prices Across the Globe” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes”][vc_column_text]

41. Hong Kong is the most expensive city to rent a house in, with a monthly rent of $3,684 and a percentage change of -1%.

(Source: Business Insider)

Next comes San Francisco, with a monthly rent is $3,631 with a percentage change of -1%. New York City is third, with $2,909 (2% change), followed by Zurich with $2,538 (9% change), and Paris with $2,455 (-1% change). 

42. Hong Kong is the most expensive city to rent an office in, with 11,698 square feet worth $100 million.

(Source: EconoTimes)

Commercial property price indices in Hong Kong remain extremely high. Next on the list comes Tokyo, where you will be able to purchase only 31,282 square feet of office space for $100 million. It’s followed by Paris, where the corresponding figure is 36,662 square feet, Zurich with 43,754 square feet, and London with 43,899 square feet. 

43. Hong Kong is the most expensive city to buy a house in, with an an average cost of $1,235,220 or $2,091 per square foot. 

(Source: CBRE)

Singapore is second, where an average house will cost you $874,372 ($1,063 per square foot), followed by Shanghai ($872,555 or $714 per square foot), Vancouver ($815,322) and Los Angeles ($679,220 or $466 per square foot). This is higher than the USA average price per square meter

44. Berlin passed rent-control legislation putting a cap on rent prices.

(Source: The Guardian)

Some more cities may follow suit. There have been recent calls for London to do so as well to alleviate the pressure on tenants, but there are no concrete plans as of now.[/vc_column_text][vc_single_image image=”2314″ img_size=”large” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Conclusion” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes”][vc_column_text]“Will the house prices go down in 2020 in the USA?” is a commonly asked question.  

Here’s the thing:

Property price statistics show that home prices in United States will increase in the next few years. However, before you invest, make sure to do some research and consult our professionals who understand the market. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Sources:” font_container=”tag:p|text_align:left” use_theme_fonts=”yes”][vc_column_text]


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