The tax credit has helped see home prices stabilize over the past few months. Crestdale Crossing in Matthews North Carolina is one area that has seen home prices remain stable over the past few years.
Three years ago there were 18 homes that sold. With an average square feet of those homes being 1372. They sold for an average price of $131,088 while being on the market for an average of 70 days. That was when the real estate market was at it's peak.
Two years ago there were 7 homes that sold. The average square feet of those homes was 1285. The average sale price was $126,557 and they averaged only 35 days on the market.
Last year there were 4 homes that sold. The average square feet was 1460 with an average sale price of $128,235. They were on the market on average for 115 days.
What makes the numbers so intriguing is that during the worst part of the downturn of home prices the average home price actually increased. In addition two years ago four of the seven homes that sold were bank foreclosures that were sold as is. Meaning the bank was doing no repairs to the home. Last year only one was a bank foreclosure.
With it's prime location in Matthews and access to some of the best schools and easy access to major highways ; Crestdale Crossing in Matthews North Carolina has been one of the few pockets that has seen home values increase over last year and remain stable over the past three years.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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