but the real estate market in West Bend is still pretty hot.  Statistics tell the tale better than the media or gossip mongers.  The following information is deemed reliable from the Multiple Listing Service and is what real estate agents use in determining values, etc. 

I compared ten years of the last quarter of the year on Single Family homes in the City of West Bend.  I compared number of homes sold, average days on the market, average list price to sale price ratio and average list price.  Guess what I found?  The most significant change was in the price of the homes from year to year.  However, if you average it, it adds up to about a 4% appreciation on your home every year.   On a  $200,000 home that would be almost a $100,000 gain over 10 years time.  Not a bad investment after all, is it?

Even over the last 5 years, it averages out to about a 5% appreciation rate per year.  So, if you purchased your home in 2003 for $200,000, you can expect it to be, on average, worth about $255,250.  Still a pretty good ROI, don't you think?

Contact me if you want to know what is going on in your community. 

Warm Regards,

Kari

 

 

City of West Bend Sold Single Family Homes Last Quarter of Year Comparison
Year 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999
                     
Number of Homes Sold 53 50 57 60 75 60 59 54 55 60
Average Days on Market 88 80 71 47 72 45 58 54 85 60
Average List Price/Sale Price Ratio .96 .97 .97 .98 .98 .99 .98 .98 .98 .97
Average List Price 199,208 216,410 196,439 213,071 187,335 172,026 158,059 158,833 147,787 140,624
Change in List Price -8.6% +10% -8.4% +13.75% +8.9% +8.8% -0.5% +7.5% +5.0%