Did My Home's Value Go Up or Down in 2014?

One of the most common questions I'm asked when folks learn that I'm in the Real Estate industry is "So...how's the market?  Is it doin' well?"  In a nutshell...yeah!  It's doin' just fine!

If you're a homeowner in Yucaipa, odds are that your investment is really paying off.  The Real Estate market treated you well in 2014!

There are countless factors that influence a home's value, but if we really simplify things, the average price of a Single Family Residence in Yucaipa, CA increased by over 12% in 2014.

Median Home Prices in Yucaipa, by month, over the past 5 years.

I'm not one to take other's market data as the gospel truth so I pulled the above market data myself directly from CRMLS; California Regional Multiple Listing Service.  MLS records the actual, real-time data that Zillow, RedFin, Realtor.com, and the others can only hope to accurately pull from.  

This process is a bit time consuming, but it's accurate.  There's no guess work. The results for the past 5 years are shown in the table above. Note that 2010-2012 were pretty flat as far as any change in home values.  2013 and 2014, however, showed pretty substantial increases as compared to previous years. 

What about the bigger picture?  The table above illustrates an average of  an 8% annual increase in the sale price of single family homes over the past 5. "But what's the typical growth rate throughout history?"  Or perhaps a better question is "What's an ideal growth rate?  Well the average annual increase in the sale price of single family homes in California over the past 30 years is just under 7%. We're at just over 8%.  In short...well done Yucaipa!  You're doin' what the rest of the country needs to be doin'!  Growing...but growing responsibly and sustainably.

Congrats Yucaipa!  Now let's do it again!

If you'd like a more comprehensive understanding of what you're unique home's value might be, drop me a quick e-mail or PM me on Facebook. I'll create and send over a personalized comprehensive market analysis on your property. My contact information is at the bottom of this post, and your contact information will never ever be used, but by me personally and directly. 

Until next time,

Andy Blasquez ~ The last Realtor you'll ever need to look for.

Cell ~ 909.539.3292

Andy.Blasquez@gmail.com

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