
Based on recent trends, I believe we will see 2% - 4% increases per year in the median sales price over the next few years.
If we take this year's YTD median sales price ($182,250) and use a 3% per year metric, here's what the next few years would look like....
- 2015: $182,250
- 2016: $187,718
- 2017: $193,349
- 2018: $199,149
That would mean that a median priced home ($182K) may increase in value by about $17,000 over the next three years.