MaxedOutMama
Wednesday, June 08, 2005
Single Family Housing Price Increases
Here are some current statistics for price appreciation of the median priced existing single family homes in each metropolitan statistical area. The figures on the far right of this pdf file represents the percentage price increase or decrease in the the last year for such a home. Not surprisingly, homes in some areas of Florida and California show the most price appreciation.
At or above 30% appreciation in one year:
At or above 25% appreciation in one year:
At or above 20% appreciation in one year:
At or above 15% appreciation in one year:
At or above 30% appreciation in one year:
- 45.2% Bradenton, Fl
- 31.8% Ft Lauderdale/Hollywood/Pompano Beach, FL
- 32.6% Riverside/Ft. Bernardino, CA
- 36.0% Sarasota, FL
- 35.9% W. Palm Beach/Boca Raton/Delray Beach, FL
At or above 25% appreciation in one year:
- 25.6% Ft. Myers/Cape Coral, FL
- 26.0% Honolulu, HI
- 29.4% Las Vegas, NV
- 29.3% Melbourne/Titusville/Palm Bay, FL
- 28.4% Miami/Hialeah, FL
- 27.0% Ocala, FL
- 28.7% Orlando, FL
- 26.9% Sacramento, CA
At or above 20% appreciation in one year:
- 23.2% Atlantic City, NJ
- 21.1% Los Angeles Area, CA
- 20.3% Monmouth/Ocean, NJ
- 22.2% Norfolk/Virginia Bch/Newport News, VA
- 24.4% Phoenix, AZ
- 20.9% San Diego, CA
- 22.7% Washington, DC/MD/VA
At or above 15% appreciation in one year:
- 17.5% Albany/Schenectady/Troy, NY
- 18.6% Daytona Beach, FL
- 15.0% El Paso, TX
- 15.1% Eugene/Springfield, OR
- 15.2% Hartford, CT
- 15.6% Jackson, MS
- 18.1% Bergen/Passaic, NJ
- 18.2% Middlesex/Somerset/Hunterdon, NJ
- 16.3% Nassau/Suffolk, NY
- 18.5% Pensacola, FL
- 16.2% Richmond/Petersburg, VA
- 16.1% Spokane, WA
- 15.4% Springfield, MO
- 19.4% Tacoma, WA
- 15.7% Tampa/St. Petersburg/Clearwater, FL
- 19.8% Tucson, AZ
Comments:
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No, but a couple of years ago the numbers tailed off in some of the SE. Mind you, there are plenty of areas running in the 8-12/13% range.
The numbers were taken from an MSA listing. Birmingham has been somewhat hot.
The numbers were taken from an MSA listing. Birmingham has been somewhat hot.
I'm in Raleigh/Durham/Chapel Hill.
RE is solid and stuff is selling- but no crazy numbers- which surprises me, because Research Triangle Park (RTP) is picking up.
RE is solid and stuff is selling- but no crazy numbers- which surprises me, because Research Triangle Park (RTP) is picking up.
That's a very nice area to live in, and it looks like a good area to be buying in too. Your median is still below the national median and the curve there looks like a rational curve should. 1-4 family there still looks like a solid investment.
These wild numbers can't be produced by rational market forces in most cases.
These wild numbers can't be produced by rational market forces in most cases.
Residential scares me- honestly, I don't know why.
I do have a strong gut feeling re office condos and industrial condos ( i have a track record there). Any thoughts on that? Or am I barking up the wrong tree?
I do have a strong gut feeling re office condos and industrial condos ( i have a track record there). Any thoughts on that? Or am I barking up the wrong tree?
Commercial lending has been booming as well. You would have to be very careful about scrutinizing the local market. Sorry, I don't have the ABA (American Bankers Association) figures here, but there has been explosive growth in commercial RE lending over the last year or so.
I don't think you want to be coming in after that much money. Commercial investors are probably looking to share the risks now.
I'm guessing you are pretty busy. For those who aren't, there is still good money at buying up estate sales of homes (a bit morbid), spiffing them up, and reselling or providing rent-to-own opportunities to younger couples. In your area, with a relatively high median price for the south but decent employment, I think there would be demand for that. Some of the older homes are far, far better built than the newer ones, but they may look a bit shabby. If you can buy at 125, invest 10, and sell at 160 you would probably do well.
If you can find a retired contractor or appraiser, you might be able to form a partnership. If you have the cash and an iron heart, you can provide owner financing too, which is a huge benefit to some young couples. I'm guessing you don't have the iron heart!
I don't think you want to be coming in after that much money. Commercial investors are probably looking to share the risks now.
I'm guessing you are pretty busy. For those who aren't, there is still good money at buying up estate sales of homes (a bit morbid), spiffing them up, and reselling or providing rent-to-own opportunities to younger couples. In your area, with a relatively high median price for the south but decent employment, I think there would be demand for that. Some of the older homes are far, far better built than the newer ones, but they may look a bit shabby. If you can buy at 125, invest 10, and sell at 160 you would probably do well.
If you can find a retired contractor or appraiser, you might be able to form a partnership. If you have the cash and an iron heart, you can provide owner financing too, which is a huge benefit to some young couples. I'm guessing you don't have the iron heart!
You know what? That doesn't sound half bad. There are areas near downtown Raleigh that are slowly being gentrified- and Durham is a undiscovered gem. They're starting toput a fortune into downtown Durham development, but the housing is still behind.
Food for thought- and I like the retired contractor idea.
Hmmm.
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Food for thought- and I like the retired contractor idea.
Hmmm.
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