Wednesday, January 30, 2013
Appraising in Hardin County
Local property values favor low inventory, which is a simple demonstration of supply and demand. However, when the supply of homes in the Hardin County area start creeping over 12-16 months, I start to notice more depreciation and a higher amount of homes that are over-priced.
Here is a market condition report for the Elizabethtown area for the past year. This report demonstrates the relationship of supply and demand compared to property values. Check out the trend of both the inventory and median sale price rows; as inventory goes up, price goes down.
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