Talk of The Villages Florida - View Single Post - Pre-owned homes appreciated 27% in a year
Thread: Pre-owned homes appreciated 27% in a year
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Old 05-18-2014, 05:28 AM
Wiserbud47 Wiserbud47 is offline
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Default Numbers misunderstood
Quote:
Originally Posted by gomoho View Post
The Daily Sun reports pre-owned homes have appreciated 27% since the first quarter of 2013 till the first quarter of 2014.

Thoughts or opinions on this number?

I stand corrected - the following explains where the 27% number came from.

•In Q1 2013 the pre-owned ave. selling price was $199,326.
•In Q1 2014 the pre-owned ave. selling price was $253,179
The average selling price increase of 27% in one year does not mean that houses have appreciated that much. If more of the larger designer houses were sold during that quarter, it would increase the average selling price in that quarter. You would have to find very similar houses sold in each quarter to find the correct appreciation.