Anything from messy neighbors to ultra-bright paint can destroy your home’s value. So though there may be no recent sales in the neighborhood”, even a few sales in the area allow them to extrapolate changes in the local housing market. I believe that most, if not all, of us do not oppose the development of the land, what we oppose is the development of city of cookie cutter homes that will undoubtedly drop the values of your home.
All that keeps coming to mind when thinking about using county data” is you have got to be kidding me. The values from one county to the next in my area varies tremendously! The most extreme example is metropolitan New York, where median condo values are now at 138 percent of median single-family detached home values.
Home values will appreciate by 3.7% over the course of 2016, 3.3% in 2017 and 3.2% in the next two years, and finally 3.1% in 2020 (as shown below). The site knows what the home sold for the last time it was purchased and it knows this same information for other homes in the surrounding area.
If photos are too dark or fuzzy, buyers are apt to move on the next online listing they see. That can make neighborhood pet amenities like dog parks and walking trails even more desirable — even increasing nearby home values. Yet among the good economic news lies an issue which, if you’ve lived in the Washington area long enough, is something that you’re familiar with — lack of affordable housing.
Over the last 12 months, home values increased 5.2 percent, and during the last five years, home values increased 31.8 percent. If people with falling home values keep their homes off the market, they won’t get counted by CS, but they will get counted by Zillow.