Real estate is always changing. Our ELE neighborhood in particular experienced a great deal of change in 2017 home sales prices. Our average sales price increased a whopping 11% from 2016 to 2017. The average sales price of ELE homes increased from $350,659 in 2016 to $389,275 in 2017*.
Days on market slowed from an average of 62 in 2016 to 85 in 2017. Additionally homes with updates increased their sales price per square foot anywhere from $5-$20 per square foot depending on the type of updates that were made.
Of course, there’s good news and bad news with this real estate change. The good news is that it is still a seller’s market and you can get a great price for your home sale. The bad news is property taxes are going up.
It might be time to ask a local realtor for a comparable sales analysis or even hire a property tax appeal service to determine if your taxes are in line with current property sales and values. Basically, what we all know is still true in real estate – ELE is a great place to live (and to invest in real estate).
Want to know the value of your ELE home? Visit http://www.enchantedlakehomes.info/ to find out!
By: Jean Christenberry
*data from NTREIS