1. I just realize it's been a week since I blogged! Woe is me.
2. I have just the thing to blog about!
I've been sitting on this one for a while, but several weeks ago the venerable Washington Post posted an article regarding the housing recovery in the United States. It's a great tool if you're curious about how your neighborhood or town has fared since the Great Recession.
Let's look at some of the top zips around the area:
27517: Chapel Hill
Right on the average for the metro area, a $400,000 home purchased in 2004 would be worth $76,000 today.
27516: Chapel Hill
Next up is Chapel Hill and the surrounding areas. Performing just a little better than the metro over the past dozen years, a $400,000 home in 2004 would be worth $484,000 today.
The crunchy enclave of Carborro is next up. A $400,000 single family home in 2004 would be worth $500,000 in 2016.
Things are starting to get hot. If you were to buy a $400,000 home in Apex in 2004 then you could expect to sell that home for $528,000 now.
27601: Downtown Raleigh
And even hotter is downtown Raleigh. That $400,000 home in 2004 is now worth $552,000 (not including upgrades).
27701: Downtown Durham
By far the winner is downtown Durham. Home prices were very low in 2004 - but let's assume you found that same $400,000 home and hung around until this year. If you wanted to sell you could now expect to get a whopping $652,000!
Of course, not every home will appreciate at these levels. Some neighborhoods did better and some did not. The sorts of upgrades you did also make a difference so if you're curious as to how much your home could be worth, give me a call!