How Much Has Your Westchester Home Increased in Value Over the Last Year?
Buyer confidence and high demand remain strong in Westchester County while our local home inventory remains historically low. Purchasing a home is one of the largest financial decisions most will make in their lifetime. This blog's main purpose is to help educate the consumer on the real estate process and to provide up-to-date information on our local market conditions.
Today I would like to talk to you about Home Values
Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.7% year-over-year.
CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home price.
The chart below shows the four price ranges from the report, as well as each one’s year-over-year growth from February 2017 to February 2018 (the latest data available).
It is important to pay attention to how prices are changing in your local market. The location of your home is not the only factor that determines how much your home has appreciated over the course of the last year.
Lower-priced homes have appreciated at greater rates than homes at the upper ends of the spectrum due to demand from first-time home buyers and baby boomers looking to downsize.
Things to Consider When Selling Your Home
Spring 2018 Edition
- What's Happening In The Housing Market
- The Housing Market Forecast
- What to Expect When Selling Your House
- Picking The Perfect Partner Agent
To assure that you make the best possible decisions, it's important that you have a knowledgeable agent on your side who is an expert in the local real estate market. Our goal is to provide you with as much information as needed to make well-informed decisions throughout your home purchase or home sale in Westchester County, New York.
To Search ALL Westchester County Real Estate Listings, visit www.Ragette.com
To reach Ralph, please call (or text) 914-202-1101 or send an email to Ralph@WestchesterHomeAdvisor.com