As home owners, we are all concerned with the values of our homes. Obviously we'd love if the values always went up, but that hasn't always been the case in the month to month housing market in the Jacksonville area. Anyone who lived through the housing and stock market crash in the 2007-2008 timeline can certainly attest to the fluctuation in home values.
Here we are many years removed and many percentage point increases over the lows of 2012. Many areas of Jacksonville and the surrounding areas have seen great increases in values while others have seen very slow increases or even flat to borderline decreases.
Why do some areas appreciate rapidly while other areas (very nearby) in the same town, depreciate?
It all comes down to your Econ 101 class... Supply and Demand. Here is an easy to comprehend graph that explains how too much and too little inventory impact housing values:
How does this relate to your neighborhood?
Every neighborhood is different. Some of our Jacksonville neighborhoods or areas of town have great demand while others are slower or downturning. It's important to know what is happening your area.
If you are curious about how your neighborhood is faring these days, send us a quick note below and we will supply you with the most recent stats for your neighborhood. Please note the neighborhood and this article and we will send it right over!
Posted by Brad Officer on
Leave A Comment