To understand these percentages it is important to understand that they derive percentage gain by looking at average sales price last year compared to this year. Average sales price is calculated by adding sales prices for all homes sold and dividing by number of homes sold. So if more higher priced homes it means a higher average sales price. We have had more sales in higher price ranges so I caution on placing too much credibility on the appreciation numbers used in this graph. Yes, we have seen improvement from a year ago; however, that improvement varies based on location. The great news is that this map shows improvement and on a local level we are feeling the improvement. For a true and accurate valuation of your home current market value give me a ring. I am happy to bring you the facts for your property!
Posted on: Tue, 04 Jun 2013 11:50:29 +0000
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