Another take on the same type of statistic is what the %/per year average appreciation has been depending on what year the property last sold. It appears that for research done on two counties – Durham and Wake – that people who bought in 2003-04 and resold recently have had the highest %/per year change in value – give or take 4%/PY depending on the county. The rate of appreciation appears to be a bit less if you look at houses bought prior to or since those years. The years prior to ’03-04 and then  in ’05 seemed to hold around the mid 3%/PY range. It is for houses purchased in the years following that (’06-’08) and resold recently that the dip shows up to be at or below 2%/PY. But, in general and in normal economic times, in order to show a decent appreciation, it is best to hold onto a house for at least 2 maybe 3 years. The point here is that the Triangle area seems to be weathering the housing crisis a somewhat better than we see statewide and nationally. 

Houses under $400K ARE selling fairly well in the Triangle especially if they are in showing condition and priced properly.  This is the time to put your first home on the market and move UP into your next home!  You will do all right with selling and you will get great opportunities in  buying over $400K at historically low interest rates (still hovering around 4.5-5%!) .  Contact us now - take advantage of selling BEFORE the $8,000 tax credit expires DEC FIRST!!