Real Estate
How Much Has Your Paoli Home Value Changed Since 2004?
A Washington Post analysis looks at housing prices before and after the financial collapse. How was Paoli affected?
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By MARC TORRENCE and JUSTIN HEINZE
Has your property value increased or decreased since 2004, when housing prices began to bubble only to collapse in 2007? How has your area recovered since then?
Those are the questions The Washington Post set out to answer, not just for the country overall but for individual towns and neighborhoods, a total 19,000 U.S. zip codes.
Find out what's happening in Tredyffrin-Easttownwith free, real-time updates from Patch.
Paoli homes have a higher value compared to the rest of the region. Homes cost $408,229 on average in 2015, which is around 24 percent more than in 2004, according to the report.
The Post put together of the more impressive and useful interactive maps you'll ever see to help visualize the data.
Find out what's happening in Tredyffrin-Easttownwith free, real-time updates from Patch.
Post staffers Ted Mellnik, Darla Cameron, Denise Lu,Emily Badger and Kat Downs used data from Black Knight Financial Services to compare home prices from 2004, just as real estate prices started to skyrocket, to 2015.
The data does not account for inflation but does correct for foreclosures and distressed sales to better reflect home values, the Post said.
In Brooklyn, New York, for example, home prices have increased by 146 percent since 2004. But in Decatur, Georgia, a suburb outside of Atlanta, prices are down 25 percent.
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