Wake County Home Values, like home values in any housing market, are influenced by supply and demand. When inventory was high and there were not enough buyers in the market place, prices decreased. Each sale influences the next sale, which creates the market in that particular neighborhood.
Today it is definitely a seller's market, where there are more buyers than there is available inventory. That's not to say that all homes on the market sell. It's important to note that homes priced at a price point that the market will bear, do sell. Overpriced homes do not. Not many people will pay more for a home than it's worth.
It's good to look at national, regional and even city-wide real estate stats to get a good feel of the market where you want to buy or sell a home. But the best way to determine the value of a particular home is to view recent sold sales comparables and look at current comparable active listings to judge where the home stands from a supply and demand perspective. Each home also has improvements or deficits that affect the value in comparison. Subjective factors such as school zoning, proximity to amenities or proximity to roads, airports or other considerations that might be a plus for some buyers and a negative to others can also affect a home's value.
A local Realtor experienced in helping buyers and sellers weigh these factors on a daily basis will be able to help you find the approximate value of a home. The true value of a home is the sales price on that given day. What someone was willing to pay at that time in the market.
So how can you be sure that you are getting the most when you sell and paying a fair price when you buy? Education! Educate yourself on market conditions by studying what's happening where you want to buy. Learn more about past sales and what were the features, location and amenities for that home. Learn about the school zones and the schools, that is important for many buyers. Learn about what's happening in the future. Are there new developments, new schools, new roads that could affect value in a positive or negative way?
Here are some local resources in Wake County that you can use to determine Wake County Home Values.
Wake County Real Estate Tax Data
Real Estate Market Update Videos - Triangle MLS
Market Trends - Triangle MLS Statistical Reports
Are You Curious What Your Home Is Worth?
Click Here to Get a Full Report
With this report you can get all the market data you need to determine Wake County Home Values and your home's value. If you would like professional assistance weighing all the data and figuring out what it mean for you and your situation, give me a call. I welcome the opportunity to sit down with you and discuss the local market and what it means to you.
After all, every home is unique and every buyer and seller is unique, that's why I believe in personalized service at every level.
Consider Jim Cleveland Homes your Local Resource for Wake County Home Values.
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