Zillow Metro Median Sales Price Per Square Foot - Newly Built Houses USA - 2023

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Zillow 2023 End of Year Report /Overview – Fluctuations in Median Sale Price Per Square Foot for New Construction Homes in the USA 

In a dynamic real estate market, the median sale price per square foot of newly built houses in the USA has experienced notable fluctuations throughout the year 2023, according to data from Zillow. The data reveals intriguing trends, highs and lows, as well as monthly percentage changes that shed light on the evolving landscape of the real estate sector.

The journey began in January, where the median sale price per square foot stood at 202.14. This figure saw a modest increase of 0.32% in February, reaching 202.79. The upward trajectory continued into March and April, with percentages of 1.52% and 1.58%, respectively, bringing the median price to 209.19 in April.

May marked the peak of the year, with a significant rise to 212.10, showcasing the robust demand for newly built houses. However, the trend took a turn in the following months, as June saw a slight decline to 210.89, followed by a more pronounced decrease to 208.26 in August.

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The latter half of the year witnessed further fluctuations, with September and October hovering around the 208 mark. Notably, November stood out with a substantial drop to 204.43, marking the lowest point in the year.

The analysis of the closing and ending figures underscores the volatility in the market. May’s peak of 212.10 contrasts sharply with November’s low of 204.43, highlighting the significant variations in the median sale price per square foot over the year.

These fluctuations reflect the intricate interplay of supply and demand dynamics, economic factors, and market sentiment shaping the real estate landscape. As buyers and sellers navigate this evolving environment, staying informed about these trends can provide valuable insights for making informed decisions in the real estate market.

The data from Zillow paints a compelling picture of the fluctuations in the median sale price per square foot of newly built houses in the USA throughout 2023. While the market has shown resilience and growth in the face of challenges, the shifts in prices underscore the need for vigilance and adaptability in the ever-changing real estate sector.

Table: Metro New Construction Median Sale Price Per Square Foot in the USA (January 2023 – November 2023)

| Month | Median Sale Price Per SF (US$) |
|———–|——————————-|
| January | 202.14 |
| February | 202.79 |
| March | 205.86 |
| April | 209.19 |
| May | 212.10 |
| June | 210.89 |
| July | 210.00 |
| August | 208.26 |
| September | 208.28 |
| October | 208.12 |
| November | 204.43 |

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Analysis:

– The data shows fluctuations in the median sale price per square foot of newly built houses in the USA from January to November 2023.
– There is an overall increasing trend from January to May, with the highest value in May.
– From June to October, there is a slight decrease in the median sale price per square foot.
– The biggest drop is observed from October to November, with a significant decrease in the median sale price.

Monthly Percentage Changes:

– January to February: 0.32%
– February to March: 1.52%
– March to April: 1.58%
– April to May: 1.39%
– May to June: -0.57%
– June to July: -0.43%
– July to August: -0.78%
– August to September: 0.01%
– September to October: -0.08%
– October to November: -1.76%

Closing and Ending Figures:

– The highest median sale price per square foot was in May at $212.10.
– The lowest median sale price per square foot was in November at $204.43.

The data highlights the fluctuations in the median sale price per square foot of newly built houses in the USA throughout 2023. The trends, highs and lows, monthly percentage changes, and closing figures provide valuable insights into the evolving real estate market dynamics, guiding stakeholders in making informed decisions.


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