Sorry - Dumb question!

I know this sounds crazy but where do you go to determine the RE trends and sales market in your particular area?

Read the local paper for one. Each an every day look at what is going on in the market. Talk to a RE agent. Keep tabs on how many homes are on the market. As supply goes up, the market cools and prices flatten.

Use and find articles and news about the area. If you live in the area, keep tabs on who is selling in your neighborhood, what the price is, and how long they are sitting on the market.

Try to avoid focussing too much on 12 month trends. Look at what is going on right now or the last couple of months. People who look at 12 month data are the ones usually getting burned.

It takes some time but soon you will be able to know the prices of homes in an area without doing anything.

You should be able to get this trends and demographic information from the state or from your city since this is also used in planning for community revitalization and project planning.