Price Gains Mostly in line with Historical Performance

by Coldwell Banker Evergreen Olympic Realty, Inc. on May 8, 2009

Through the first quarter of 2009, average home prices are off nearly 8% from year ago numbers. Even with these price corrections, a great many sellers are still achieving healthy returns.

Every Month we complete a study of home price gains in our market. Because each home is unique, and therefore fetches a unique price at sale, we analyze each sale to determine what price appreciation each home achieved.

We then group the data based on the number of years that the sellers owned the homes. An average price appreciation is then calculated for each group. The results of our study show that homeowners in their homes longer than three years are making returns just below our markets long historical average of 5.9% per year.

By the same token, the majority of people in their homes 3 years or less are selling for less than they paid.

The following shows the average return the home sellers achieved based on the number of years they owned the home.

Click image to enlarge.

Repeat Home Sales Report, Homes Sold in Thurston County during January – March of 2009. NWMLS re-sales only, analysis by Coldwell Banker Evergreen Olympic Realty. Statistics not compiled by NWMLS. For more details, contact one of our sales professionals.

Statistics compiled by Coldwell Banker Evergreen Olympic Realty, Inc. from the NWMLS database. Statistics not compiled or published by NWMLS.

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