Electric Avenue: State-by-State Breakdown of Electricity Costs and Their Impact on Real Estate
In this analysis, we'll be examining the impact of electricity costs on real estate markets across various states. We'll explore how these costs affect property values, sales, and inventory levels. Our data set includes specific cities and their corresponding electricity costs, median sale prices, homes sold, inventory levels, and days on market. Research on wildfire vulnerability and property values revealed that natural disasters can significantly impact property values, and it's essential to consider these factors when analyzing real estate markets.
At the state level, we can see that the median sale price varies significantly. For example, in the first state in our data set, the median sale price is $95,044.73, while in another state, it's $72,847.99. This variation can be attributed to differences in electricity costs, with some states experiencing higher costs due to factors such as mortgage rate cuts and other economic factors.
Looking at the specific cities in our data set, we can see that the median sale price in the city of Springfield, Missouri is $70.67, with homes staying on the market for 100 days. In comparison, the median sale price in the city of Madison, Wisconsin is $42.45, with homes staying on the market for 120 days. We can also see that the number of homes sold varies significantly between cities. In Springfield, there were 500 homes sold, while in Madison, there were 700 homes sold. Research on midwestern markets under pressure reveals that these regional trends can significantly impact local real estate markets.
It's also worth noting that the inventory levels in these cities vary. In Springfield, there are 500 properties available for sale, while in Madison, there are 700 properties available for sale. When comparing these cities, we can see that the city with the lower median sale price has a higher number of homes sold. This suggests that the city with the lower median sale price may be more attractive to buyers, leading to a higher demand for homes.
For a more in-depth analysis of the impact of electricity costs on real estate markets, be sure to check out our article on emerging real estate hotspots, which explores the relationship between price trajectories and real estate investment.
Data Table
| City |
State |
Median Price |
Homes Sold |
Inventory |
Days on Market |
| Springfield, MO |
Missouri |
$70.67 |
500 |
500 |
100 days |
| Madison, WI |
Wisconsin |
$42.45 |
700 |
700 |
120 days |
Additional Resources
