2017 Has Been a Good Year for Real Estate


Since the year is just about over, I thought it would be a good idea to tell you a little bit about how the market did over the course of the year.

As the year draws to a close, many of you have asked me how the real estate market did in 2017. I have good news to report to you about that. Stock values like the Dow Jones Index, NASDAQ, and S&P 500 have increased by about 25%, and the real estate market is doing well also.

In the market that I’m tracking for you, in 2016, we had an average price of $550,000 with an average square footage of about 1,780 square feet. Rounded off, it’s about $310 per square foot. In 2017, the average price is now $604,500 with an average square footage of 1,885 square feet, which amounts to about $327 per square foot. Between this year and last year, we saw about a 5.55% increase in the average price.

Based on this information, a person with an FHA loan who put 3.5% down (roughly $19,250) has seen their home value increase by another $30,000. This is about a 157% increase on the equity that they have on their home.

For a person who’s going for a more traditional approach, if you put 20% down (based on the average price, this would be about $110,000), that same $30,000 increase in equity gave them a 27% return on the equity, which is very good.


All in all, it’s been a very good year for our market.


The days on market has decreased from the 2016 average of 90 days to 66 days, which is in line with an observation I made in my August report. All in all, it’s been a very good year for our market, and I expect to have even better news come the new year.

If you have any questions about the market or real estate in general, please feel free to give me a call or send an email. Until next time, I wish all of you to have a Merry Christmas and a happy, healthy, prosperous 2018.

3 comments :

  1. This comment has been removed by the author.

    ReplyDelete
  2. Thanks for sharing blogpost Looking for Home loans, FHA Loans in Southern California Summit Lending Provide all Financial,Mortgage Services.

    ReplyDelete
  3. Positive site, where did u develop the data on this posting? I'm pleased I discovered it though, ill be checking back soon to discover what additional posts you include.real estate social media

    ReplyDelete