For every neighborhood on my website, I maintain a detailed database on every single home and sale that has taken place since being built. It is a huge undertaking! But in order for me to know as much as possible to best help my clients, it is a necessary effort. It is another competitive advantage for my clients so that I can negotiate the best price whether buying or selling. I don’t think you will find any other realtor who can tell you what the appreciation rate is in your neighborhood. We get monthly reports in the office of the whole area of how much home prices are increasing, but that is an overall and the numbers do not drill down to each neighborhood or style of home.
There are different styles of houses which I narrow down to Single Family, Townhouse or Carriage Home. Each of these styles of home carry different demographics and different buying habits. Single Family homes are typically bought by married couples with children. Townhouses are typically purchased by young professionals and people who are single. Carriage homes cater more to the 45+ age group who may or may not have children in the home. So demographics vary widely between the different styles of homes.
I calculate sales price increases and decreases down to the day. Which means, I look at the purchase price difference between Seller and Buyer. Then I look at how long the Seller has lived in the home, and factor that into the gain or loss they had after selling. This gives me the most precise figure in determining how much house prices are increasing or decreasing in a neighborhood each year. It also tells me if someone is over paying/selling or under paying/selling. It also provides you, my client, an estimated method of value to make sure you are getting a good deal.