Friday Facts – Guess Which City Has the Highest Home Expenses?

FRIDAY FACTS

July 10, 2015

 

From WCVB Channel 5:

Zillow partnered with Thumbtack to quantify a number of common home expenses from home insurance and property taxes to general maintenance and found that the average homeowner spends $9,477 per year in extra home costs. Here is a regional breakdown, and guess what city was the most expensive?

  1. Boston – $13,930
  2. San Francisco – $13,287
  3. Chicago – $12,236
  4. Philadelphia – $11,953
  5. Seattle – $11,549
  6. Los Angeles – $11,333
  7. Portland, Oregon – $10,672
  8. San Diego – $10,647
  9. Orlando – $10,100
  10. Minneapolis – $9,782
  11. National Average – $9,477

MASSACHUSETTS HOME SALE STATISTICS FOR MAY:

Single family home sales fell 2.6% in May, the third monthly decline in 2015. The median price of $340,000 remained unchanged from May 2014. Year to date, sales dropped 1.8%, but the year to date median rose 1.9% to $325,000.

Condo sales dropped 5.7% in May, for the 7th straight month. The median increased 2.2% to $327,000 in May. Year to date sales were down 6% and the year to date median is up 0.6%.

MASSACHUSETTS FORECLOSURE PETITIONS AND DEEDS IN MAY:

According to Banker and Tradesman, foreclosure petitions were up 52% in May 2015 compared with May 2014. This is the 15th consecutive month of increase in filings. Foreclosure deeds were up 82% in May compared with last May. Year to date, foreclosure deeds are up 18%. This represents the large volume of delinquent mortgages that have been in the process a long time.

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