If you've been living in Frederick County for very long you might have been aware of the ups and downs of the real estate market here.Over the last decade we've seen home values rise at a quick,
What's happening to my home value?
If you've been living in Frederick County for very long you might have been aware of the ups and downs of the real estate market here.
Over the last decade we've seen home values rise at a quick pace, and then fall at an equally rapid pace. Since 2014 home values have been on the rise again thankfully, to the delight of Frederick home owners.
So what's going on with home values in 2019?
Recently one of the premiere home appraisers, Wayne Six, of Six and Associates shared with our local realtor board the following details.
In 2018 and so far in 2019 we've seen a 3-5% rise in average values year over year. This is what's considered a healthy appreciation.
The caveat is that we find ourselves in what's called a bi-forcated market. This means homes in the higher price ranges are appreciating at a lower rate than homes in the lower price ranges.
So where do we draw the line between the price ranges?
Home below $400,000 are in high demand and are appreciating as much as 6%. Where as home above $600,000 are appreciating very little if at all.
So depending on what price range you are in your expectations are going to be different. If you're a seller you are going to want to price your home accordingly.
If you're a buyer you are going to want to understand what the demand is and make your offer stratgey according to the demand.
If you are in the market or looking to sell contact me for a more detailed analysis.
Amanda Addington has over 18 years experience in the residential real estate industry and holds a Bachelor's Degree in Business Management. She has been a licensed REALTOR® for 10 years with over $60....