Purchasing a home is one of the essential investments there is. More than a place to live, homeownership is an asset with the potential to rise tremendously in value.
Given the current state of the real estate market, housing affordability is determining for buyers. As of January 26, 2022, the 30-year fixed mortgage rate is 6.13%.
As a result of higher mortgage rates across the board, home prices have risen significantly. The typical home value in the United States increased over the last year by +8.4% to $356,819. Although home prices have inflated across the U.S., certain areas have a higher price tag than others. Location, size, age, and condition contribute to home value.
Whether you choose to hold off your home-buying plans in hopes of the market cooling down or are looking to buy ASAP, it’s good to educate yourself on the market in different cities.
Stacker compiled a list of cities with the most expensive homes in St. Mary’s County using data from Zillow. The Zillow Home Values Index ranks cities for all homes as of December 2022. The ZVHI represents a seasonally adjusted price for the middle market for all homes. All 22 cities and towns with data available were included in the list. Charts for each city show the monthly typical home value since January 2018.
22. Chaptico, MD
- Typical home value: $299,499- 1-year price change: +3.0%- 5-year price change: +31.7%
21. Bushwood, MD
- Typical home value: $336,055- 1-year price change: +2.1%- 5-year price change: +32.6%
20. Lexington Park, MD
- Typical home value: $342,603- 1-year price change: +6.8%- 5-year price change: +39.5%
19. Great Mills, MD
- Typical home value: $343,928- 1-year price change: +6.2%- 5-year price change: +39.4%
18. California, MD
- Typical home value: $354,927- 1-year price change: +7.1%- 5-year price change: +35.9%
17. Park Hall, MD
- Typical home value: $377,077- 1-year price change: +8.7%- 5-year price change: +38.2%
16. Avenue, MD
- Typical home value: $384,750- 1-year price change: +3.2%- 5-year price change: +32.1%
15. Scotland, MD
- Typical home value: $384,775- 1-year price change: +8.6%- 5-year price change: +34.5%
14. Coltons Point, MD
- Typical home value: $385,953- 1-year price change: +2.5%- 5-year price change: +38.6%
13. Mechanicsville, MD
- Typical home value: $390,090- 1-year price change: +5.2%- 5-year price change: +35.6%
12. Callaway, MD
- Typical home value: $391,452- 1-year price change: +6.7%- 5-year price change: +36.8%
11. Clements, MD
- Typical home value: $401,486- 1-year price change: +2.7%- 5-year price change: +32.3%
10. Abell, MD
- Typical home value: $417,887- 1-year price change: +3.3%- 5-year price change: +35.5%
9. Valley Lee, MD
- Typical home value: $421,321- 1-year price change: +6.1%- 5-year price change: +32.0%
8. Saint Inigoes, MD
- Typical home value: $431,658- 1-year price change: +10.0%- 5-year price change: +38.1%
7. Piney Point, MD
- Typical home value: $436,782- 1-year price change: +8.3%- 5-year price change: +36.4%
6. Ridge, MD
- Typical home value: $442,547- 1-year price change: +8.9%- 5-year price change: +39.6%
5. Hollywood, MD
- Typical home value: $447,087- 1-year price change: +6.4%- 5-year price change: +34.3%
4. Leonardtown, MD
- Typical home value: $472,002- 1-year price change: +6.4%- 5-year price change: +34.5%
3. Tall Timbers, MD
- Typical home value: $482,013- 1-year price change: +7.6%- 5-year price change: +37.6%
2. Drayden, MD
- Typical home value: $515,498- 1-year price change: +7.6%- 5-year price change: +34.0%
1. Dameron, MD
- Typical home value: $516,963- 1-year price change: +8.2%- 5-year price change: +29.4%
