February Dates to Remember
Feb 12: Lincoln's Birthday
Feb 14: Valentine's Day
Feb 17: Presidents' Day
Feb 26: Ash Wednesday
This year has started off strong with many properties going on the market and some even seeing multiple offers! We are eager to discuss the new Wake Co. Tax Assessments, and to share the Triangle Housing Report for 2019. Let’s take a look…
Wake County Property Taxes
The Wake County Department of Tax Administration mailed about 395,000 notices to residential and commercial real estate property owners. On average, residential property values experienced a 20% increase countywide since the last reappraisal in 2016. Both high demand and a low supply of homes, particularly those valued at less than $250,000, drove the increase in residential value.
Search your 2020 Property Value
Read WakeGov News Report on the 2020 Reappraisal
Like many, you may be wondering what this means, and if you should consider an appeal on your property value. Contact us and we can give you the information and tools for your best course of action.
Triangle Regional Housing Report
The 2019 Triangle Regional Housing Report
states, "The 2019 housing market was fueled by the overall strength of the economy across most of the country. The stock markets reached new highs throughout the year, improving the asset bases of millions of Americans. Unemployment rates fell to 50-year lows, while wages increased, creating new home buyers. Mortgage rates also declined significantly from 2018, helping to offset affordability stresses caused by continued price appreciation nationally.”
Here are a few highlights from the 2019 Triangle Annual Report:
• New Listings were up by +2.9%
• Closed Sales were up by +5.9%
• Average sales price increased by 4.5% to $317,244
• The average days on market was 32, a slight increase of 6.7%
• Knightdale/Wendell/Zebulon led the way in closing growth, with an increase of 23.8%
Watch a full 2019 Market Update from the Triangle MLS here!
Thinking of selling in 2020? Don’t wait until the Spring market - give us a call today to get started!
Raleigh Listed as #2 Quality of Life Index by City 2020 by Numbeo
Raleigh also came in at #3 in a recent report of the Best Metros for Millennials
Raleigh, N.C. listed as “One of the Best Places to Raise a Family on a Budget”
With all this good news, who wouldn’t want to call the Triangle their home?
Until next month,
God bless from all of us at Linda Trevor & Co.