Well, it is kinda like it never happened. That is…the over-inflated days of the early 2000’s, the epic real estate crash across the nation and the rapid recovery the last 24 months!
One question I have been asked recently from buyers is, “Did I miss the recovery?” and “Is the market a bubble and prices too high again?” My honest answer is “absolutely not!” This graph shows why. If you were to remove the non-typical cycles I referred to above, we are back on track as if the market had followed the 100 year historical trend of 5-6% appreciation. If we have another 25% appreciation year we will once again trend above the average, but right now we are in the sweet spot. This first two quarters of 2014 have slowed in appreciation rates and look awfully close to the 100 average.
What does that mean? It means that the market is normalizing and that we still have an opportunity to invest and purchase a home in this amazing town for 76% of the peak values back in 2007.
For more information about the market please reach out to our team. The Ladd Group is here to help! Click here to contact a team member.