Appreciation Rates for Charleston Homes

Looking at the median sales price of single family homes each year since 2000, the following are the rates of appreciation depending on what year you purchased.

Yr
Purchased Total apreciation up to June 2008.

2000 46%
2001 37%
2002 32%
2003 25%
2004 16%
2005 5%
2006 -1%
2007 -2%

Using these numbers you should be able to tell what your appreciation is since you bought the home. For example, if you bought a home for $160k in 2000 and have seen a total appreciation of 46%, it should now be worth $160k x 1.46 = $233,600. This of course would not include any upgrading you may have done to the home. If you have spent $60k on upgrading this home, then it should now be worth $293,600.

Surprisingly, individual neighborhoods differ very little from these overall numbers.