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A Look at Local Home Value Growth Since 2012
Since 2012, home values have grown by around 10% each year, resulting in substantial return in pricing. Below are some examples of actual homes sold in 2012 and again in 2015 that were not remodeled or significantly improved in between sales. These examples show the return in home values that we have experienced since the economic downturn. We pulled these examples to show you actual pound-for-pound market data versus the statistical percentages often quoted in market updates. We think these examples are pretty telling and quite exciting!
As you can see in the current economic update from Matthew Gardner, inventory has been a challenge. Many folks have been waiting for their current home values to return in order to make big moves involving their retirement, upgrading homes, investing or even buying a second home. If you are one of those people, we hope these examples provide you insight on the increase in home values and how they might pertain to you. As we head into the New Year, if you'd like a Comparable Market Analysis (CMA) on your home so you have a better understanding of your home's value, any one of our agents would be happy to do that. This would be an important component in charting your 2016 financial goals, and what a great time of year to gather that information.
3 bedroom 3200 sq ft Edmonds home: |
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Sold in August 2012
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Sold in July 2015
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$185,050 INCREASE IN HOME VALUE: 32%! |
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4 bedroom 2100 sq ft Bothell home: |
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Sold in February 2012
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Sold in February 2015
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$114,872 INCREASE IN HOME VALUE: 36%! |
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3 bedroom 1400 sq ft Shoreline home: |
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Sold in June 2012
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Sold in March 2015
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$102,250 INCREASE IN HOME VALUE: 33%! |
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3 bedroom 1800 sq ft Lynnwood home: |
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Sold in December 2011
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Sold in May 2015
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$95,000 INCREASE IN HOME VALUE: 43%! |
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We are currently working on more examples in surrounding communities… check out our Price Appreciation Study for more. And contact any one of our agents for a Comparable Market Analysis on your home.
