The real estate market is a fluid world!

Many homeowners who are not consistently in tune with their local housing trends are often surprised when they learn their home’s current value. They may also be surprised by how different their neighborhood may be performing compared to one just a mile away.

It is important that you are not relying solely on the media’s overview of national trends. There are many factors that play into the real estate market. The buyer demand in your specific neighborhood will play a large role in your home’s value, which is why I encourage all homeowners to pay attention to their own neighborhood.

Real estate has always been a great investment opportunity. Home values climb about 4% on average each year. In recent years (2020-2022), we’ve seen home values surge mostly due to the depleted housing inventory. Some areas have seen more than 15% increases in value in just 1 year!

Why is it important to stay up to date with your local market trends?

1. Your home is a major investment! You should always be tuned in with the health of any financial endeavor you embark on.

2. You may have plans to move on to your next property. Knowing your current property’s equity AS WELL AS knowing the value of the homes you may be interested in purchasing is critical information as you discuss your options.

3. Funding Home Improvement Expenses. Is it time for a major home renovation or remodel? Many homeowners choose to use the equity in their property to fund large projects. Investing back into your home by maintaining it’s systems or refreshing your spaces is ALWAYS a good idea. Speak to your financial advisor to discuss what options may work best for you.

Interested in receiving a quick snapshot of your local market? In Pennsylvania, I focus on the Greater Philadelphia region. In New Jersey I focus on Camden, Burlington, and Gloucester counties. CONTACT ME to request your neighborhood snapshot:

Emily Woods, Realtor - Licensed in PA & NJ