So What Will Happen to Real Estate in 2015?
If you take a look at the change in Median Sold Price from February 2013 to February 2015 we see a 34% increase from $127,000 to $170,000 in 2 years.
However, if you look at the change in Median Sold Price from February 2014 to February 2015, we see a 6% decrease from $180,000 to $170,000 in the last year.
Going forward, we believe that prices will continue to appreciate, however at a much more modest rate of +/- 7%-10% per year.
A 34% appreciation rate is not sustainable; we believe that the market is moving back towards the slower appreciation rates we experienced in the 80’s & 90’s.
So What Does That Mean???
For Buyers: It means that homes purchased will continue to appreciate (however, at the slower rate) and are still a good investment!
For Sellers: It means that homes are selling, although sellers need to be sure their homes are priced correctly before being placed on the market.
With interest rates still at historic lows and more homes to choose from, now is an excellent time to buy your new home.
To be pre-qualified for a loan, contact Dorathe Catlin of Coldwell Banker Mortgage.
Email: Dorathe.Catlin@mortgagefamily.com
Phone: 209-261-4320
Gonella Realty also offers Property Management services. If you are interested in our company managing your property, please contact Property Manager Kathy Jameson, or Assistant Property Manager Tina Winek.
Email: KJameson@gonellarentals.com;
Phone: 209-383-6277
If you are interested in selling, you may be surprised at the market value of your property. If you would like a current market analysis of your property, please contact one of our highly trained agents.
Merced Sales Office: 209-383-2171
Atwater Sales Office: 209-358-6429
Commercial Office: 209-725-7253
Explore posts in the same categories: Merced County Real EstateTags: 2015, Buyers, Merced County, Real Estate, Sellers
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