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  • Writer's pictureJesse Ledbetter

Micro Market Trends: Thomas Dale, Wythe and South Petersburg

As I perform appraisals daily, occasionally I see interesting trends in the data that I pull. I will begin to do weekday posts that are short snapshots of micro markets as I have time and as they present themselves. These three market areas' graphs looked so similar, at first I thought that I had made a mistake. These areas show the potential of exponential growth and historically low days on market.

Thomas Dale HS Area - 1800-2300sf homes.

Wythe HS Area - below 1200sf

South Petersburg 1500-2500sf homes.

How long can exponential home prices last? History shows that as home prices appreciation outpaces wage appreciation, the likelihood of a correction increases.

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