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    Year-Over-Year Price Appreciation Reaches Double Digits in 5 Price Categories

    The National Association of Realtors’ most recent Existing Home Sales Report revealed that, compared to last year, home sales are up dramatically in five of the six price ranges they measure.

    Homes priced between $100-250K showed a 20.7% increase year-over-year. This is an impressive increase, showing that November was an excellent month for home sales in this price range.

    But surprisingly, the 20.7% increase in sales in this range was not the highest percent change achieved, as sales of homes over $250,000 increased by double-digit percentages with sales in the $750,000- $1 million range showing the largest increase, up 43.2%!

    As prices in many markets continue to accelerate, it is no surprise to see the percentage of homes in the higher price ranges increasing.

    Here is the breakdown:

    Year-Over-Year Price Appreciation Reaches Double Digits in 5 Price Categories | MyKCM

    Homes under $100,000 were the only group to show negative appreciation of sales at -2.4%. This not only points to the lower inventory of homes available for sale in this price range but also speaks to the overall strength of the housing market.

    What does that mean to you if you are selling?

    Houses are definitely selling. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit down with your agent to see if it is priced appropriately to compete in today’s market.

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    Danny Cheung

    I spent almost thirty (30) years with the Department of Defense in hardware/software design, development, operations, maintenance, and program manager before joining the Group in a full-time capacity. I am thrilled to put my years of experience as an Electronics Engineer and Program Manager to assist and lead our Real Estate Group to the next level. I am committed to establishing the tools and resources necessary for our team members to work more seamlessly and effectively, thus ensuring our clients' satisfaction. My wife and I have two daughters and a dog (he’s more like our son). I enjoy traveling and watching sports, especially football…Go Skins!

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