5 States with the Highest Average Home Prices

In this article, we will take a look at the 5 states with the highest average home prices in the US. If you wish to see our detailed analysis, you can go to 20 States with the Highest Average Home Prices.

5. Washington       

Average Home Price: $568,346

Washington makes it to the states with the highest average home prices. The housing market remains competitive in the state due to the high demand for its real estate. The decline in the housing supply further brings home prices up. As of October, the average home price in the state was as high as $568,346.

4. Massachusetts   

Average Home Price: $589,253

The high home prices in Massachusetts are a result of the relatively low inventory and rising demand. Buying a home in Greater Boston is a hustle since the houses are priced high thereby causing affordability problems for the homebuyers. Massachusetts recorded an average home price of $589,253 in October.

3. Colorado

Average Home Price: $746,473

With an average home price of $746,473, Colorado becomes one of the 20 states with the highest average home price. Denver, Boulder, Fort Collins, and Greeley are expensive housing markets in the state.

2. California  

Average Home Price: $746,473

California ranks as another state with a high average home price. As of October, the average home price in the state was $746,473. House affordability is an issue, especially in areas such as Southern California where home prices are nearing records while the mortgage rates are high. More demand and less supply have also contributed to the high prices.

1. Hawaii   

Average Home Price: $830,193

Hawaii ranks at the top of the states with the highest average home prices. The state’s waterfront property is especially priced higher. The rising interest rate, low inventory, and competition from so many buyers also drive the prices up. As of October, the average home price in Hawaii was $830,193.

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