If you’ve entered the real estate market
as a buyer or a seller, you’ve inevitably heard the mantra “
location, location, location” in reference to identical homes increasing or decreasing in value based on where they’re located.
In today’s housing market where home prices are appreciating quickly, it’s important to know that
not every home appreciates at the same rate. The map below demonstrates that point on a state-by-state basis using data from the National Association of Realtors.
Demand often dictates value, even for houses in the same area of the country! High demand for starter and trade-up homes have driven prices up in these categories by nearly 10% over the past year, while those in the premium markets have appreciated at closer to 6%.
We live in Massachusetts so we are sure you are curious about our state. Even more so North of Boston in Essex County on the North Shore. Contact us
HERE we are happy to share!
Bottom Line
If you are debating whether or not to buy and/or sell a home this year, let’s get together to help you figure out exactly what’s going on in our market.
THE MILITELLO TEAM
(978) 815-3877 Joseph
(978) 500-1480 Kathleen
