Has Your Home Gained Value?

Real Estate Podcast with Amy Wengerd

When comparing the stats from 2019 to 2020, your home could be worth more now. In the world of real estate, we’re in the process of wrapping up 2020, as any new contracts that are written for our clients now will likely close in January. So today I’m providing a recap of the Stark and Summit County real estate markets by comparing 2019 to 2020. In Stark County from January 1, 2019, through the end of November 2019, the average sale price was $140,000, homes took an average of 36 days to sell, and sellers received 97.6% of their asking price. During that same stretch of 2020, the average sale price was $157,000, which is a 12% increase. Houses took an average of 29 days to sell, and sellers received 99% of their asking price. If you’re in Stark County, it’s fair to assume that your property could be worth 12% more this year than last. “We’ve experienced an average value increase of approximately 10% for our properties.” In 2019, the average sale price for Summit County was $147,000, homes took an average of 42 days to sell, and sellers received 97% of their asking price. In 2020, the average sale price was $161,125, which is about a 9% increase. In both counties, we’ve experienced an average value increase of approximately 10% for our properties. For example, if your home was worth $150,000 in 2019, it could be worth $165,000 here in 2020. Though 2020 has been a difficult year overall, our local real estate market is giving homeowners a good reason to be in high spirits. Call or email us today if you’d like a free, customized valuation of your property or have any questions. As always, we’re here to help with any real estate needs you may have, and when you’re ready to buy or sell, we would love to help you.