Lewis County Real Estate Market Report March 2018
Last month, we reviewed some numbers that have distinguished the current market over the last few years. Here’s the link if you’d like a refresher:
These metrics are identical in general with the county, obviously, but over the last three years both towns have gained roughly $50,000 in equity! There are many people who would like to sell, but prices are so inflated it is difficult to buy – creating a circular issue! If you are one of those homeowners, consider this: If you sold your home in a down market, you would make less, but you would get a great deal on a home. In this market, you will make more, but you will pay more for a home. It’s a catch 22!
Rising interest rates are sure to have an effect to these numbers as well, but it is uncertain to what extent.