Home Prices 3 bedroom, 2 bath Memphis, TN - $99,900 Kenosha, WI - $234,900 Charleston, SC - $270,000 Manhattan, NY - $4,250,000.

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Presentation transcript:

Home Prices 3 bedroom, 2 bath Memphis, TN - $99,900 Kenosha, WI - $234,900 Charleston, SC - $270,000 Manhattan, NY - $4,250,000

Kenosha, WI Medium-Sized City Serves 2 Metropolitan Areas – Chicago & Milwaukee/Madison

Kenosha, WI On Lake Michigan Reasonably priced family homes Many nice neighborhoods to choose from

Housing Supply The MLS has only eight homes listed for sale in Kenosha for between $200,000 and $300,000.

Housing Supply Charleston, SC, conversely, has 268 homes for sale in this price range. (Both cities are similar sizes, and both are considered desirable small cities to live in.)

Housing Supply Shelby County (Memphis), TN currently has 369 homes for sale in the $200k - $300k price range.

Housing Supply Memphis is about five times larger than Kenosha or Charleston, placing it mid-way between these two cities when ranked by availability of per-capita family home listings.

City to City Fluctuation Median age of homebuyer varies significantly Prices linked to rising or falling population trends

City to City Fluctuation Wisconsin has lower tax rates than Illinois, so Kenosha has not been hit as hard economically as similar nearby cities Middle-income housing is affordable, and non-manufacturing sectors have stabilized or improved

City to City Fluctuation Milwaukee was the only U.S. metropolitan area out of 25 studied in 2009 that experienced a net increase in home sales prices.

City to City Fluctuation Manhattan’s population density as well as its attraction to hundred of thousands of citizens in the professional class make its home prices stratospherically unaffordable. The average per capita income of Manhattan residents is over $100,000.

References Cruises float $37 million to Charleston economy. (2010, 1 February). States News Service. Flaum, D. (2007, 11 February). Area economy heats up in January. Commercial Appeal. Parrott, J. (2007, June). Income numbers show a changing city. Gotham Gazette. Walker, D. (2009, April 3). Milwaukee bucks national housing trends. Milwaukee Journal Sentinel. Wonham, L. (2010, April 30). Decline in manufacturing in southeast Wisconsin has many considering reinvention. Daily Reporter.

References Charleston Trident Multiple Listing Service. Retrieved from Midwest Real Estate Data, LLC. Retrieved from Manhattan Multiple Listing Service. Retrieved from Memphis Multiple Listing Service. Retrieved from