Let me find your new home!
Michael Totman

How Much Has Your Home Increased In Value In The Last 12 Months?

Here in Massachusetts the economy is doing very well with strong job prospect, low unemployment, and solid real estate prices. But if you’ve thought of selling your home for one reason or another but balked because you didn’t think you had enough equity then you might want to reconsider listing now.

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 6.2% 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 July 2017 to July 2018 (the latest data available). 

How Much Has Your Home Increased in Value? | MyKCM

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 which 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.

Bottom Line

If you are planning to list your home for sale in today’s market, let’s get together to go over exactly what’s going on in your area and your price range.

Now is a great time to sell your home in Massachusetts and either move up to a larger house or downsize to a smaller home. Whatever your reasons, I’m here to help! Give me and my team at Bridge Realty a call today. I’m Mike Totman, 508.386.5000!

Leave a Reply

Your email address will not be published. Required fields are marked *