Nov 21, 2008

SC Real Estate Appraisals - How is Your Property Value Holding Up to all the Changes?


Charleston, SC
Originally uploaded by jrhyley
How do I determine whether property values are increasing or decreasing?

The Lowcountry Loop | Your SC Community Newsletter

If you read national news publications like USA TODAY, they will normally report on the value of real estate as reported by the National Association of Realtors.

• The most common way that these papers report on values is the median sales price. They often report that the median sales price for the nation was up or down X% for a certain period.

• This information is applicable for many areas of the country, but it is not very specific to any one subdivision or market area.

What I am doing for South Carolina Lowcountry subdivisions is analyzing several different streams of data to give you a very good idea of what values in your subdivision are doing this year.

I will be looking at and evaluating:

• the average sales price
• the median sales price
• the average per square foot price
• and the average size of the homes that have sold in your neighborhood.

This will give you the best idea of what homes are doing in your subdivision. For example, the median price may show a 15% decline, but the average size of the homes that sold may have decreased. I will analyze all of these factors to give an accurate picture of homes in your subdivision.

I will also look at the number of listings on the market, the number of pending sales, and other factors that may affect your area.

I will be adding new articles and new subdivisions on a weekly basis. You can also post questions or comments on my message board as I will be adding information on a weekly basis.

http://www.scappraisers.com/lowcountry-loop

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