Are house values in Lake Carolina increasing or decreasing?
Real Estate in Lake Carolina as of late have been very tough for sellers. The best way to look at, is to first look at the law of supply vs. demand. Real estate is like any other market. The value of your home is based on how much supply is out there and how much demand to support it. Lake Carolina's real estate supply has has gone up over the past few years.
Sales(demand) has gone down 24% year over year ('07-'08), and has gone down 40% versus this time last year. The positive note is that inventory has come down slightly over the past year, around 7%.
To answer my question; yes, home values are slightly decreasing in Lake Carolina. Never something homeowners want to hear. So if you don't have to sell, DON'T. If you do, make sure you select a Realtor who knows the market.
Visit my website for a free, no obligation market analysis on your home, www.markcorral.com
You can also reach me at email@example.com
Come back soon.
Keller Williams Realty