Let’s talk about Wallenpaupack Lake Estates home values.
Is now a good time to sell your WLE home? Have Wallenpaupack Lake Estates home values increased?
Housing market predictions always make great headlines. Everyone needs a home, lots of people want a vacation home… and homeowners who have invested in either a full-time or weekend lake house certainly want to know what their home is worth.
Last year we saw headlines about a possible housing market bubble, and many wondered if Americans still felt confident about the value of their homes. Recently, the 2018 Houzz & Home Study revealed:
“Homeowners with mortgages have seen their home equity more than double since 2011, increasing to a record-setting $8.3 trillion in 2017.”
The average homeowner gained $16,200 in home equity between Q2 2017 and Q2 2018 according to the latest release of CoreLogic’s Home Equity Report.
Since 2011, home values have increased significantly throughout the country, with prices rising by 5.1% in 2018 alone. But those are national statistics. Ultimately, real estate is local. What about Wallenpaupack Lake Estates home values? Have they increased, and if so, by how much?
WLE Home Sales Statistics
One of my favorite things to do as a Realtor is check out the sales statistics. Here is what I found when investigating the sales history of non-lakefront, non-foreclosure homes in Wallenpaupack Lake Estates (WLE). I removed the lakefront and foreclosure homes from the mix to get a better grip on the “average” sales activity.
“All I knew is that I never wanted to be average.” —Michael Jordan
Remember, these numbers are only averages. Since each WLE home has unique qualities affecting its market value, basing your home’s value simply on averages (like Zillow’s Zestimate) is not reliable. Order a custom analysis of your house based on its features, square footage, and upgrades. Comparing it to other homes in Wallenpaupack Lake Estates, I will make appropriate adjustments on major differences. While not an appraisal, my comparable market analysis (CMA) gives homeowners a good range of value for their home.
Is It Time To Sell?
In all honesty, it depends. On average, home prices in WLE now are higher they were in 2011, but still quite a bit below 2009 averages. There are many pieces that work together when deciding if now is the best time to sell. Price is certainly a part of that – but sometimes it’s time to sell because circumstances change and it’s time to turn the page on a new chapter.
Overall, in my professional opinion, 2019 should be a good year for those ready to sell. CoreLogic forecasts that home prices nationwide will increase by 4.8% by the end of the year. Buyers want to buy a PA lake house / vacation home while interest rates are still low.
If now is the time for you to sell, then now is the time to hire me, Karen Rice of Chant Realtors, to sell your WLE home. Call today @ 570-647-5170 or fill in the form below. Let’s talk soon!
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