Question: According to Zillow, a Seattle company specializing in real estate data tracking and analysis, the analysis, the median home value in North Dorchester, Massachusetts is $475,100. North Dorchester home values have gone up 7.7% over the past year and Zillow predicts will rise another 4.3% within the next 3rear. The median list price per square foot in North Dorchester is $431, which is lower than the Boston average of $675.

The outlined area is Dorchester. North Dorchester is the northern half of the neighborhood with southern boundary of Columbia Road, Quincy Street, East Street and Freeport Street. Using Zillow's data as reported above,

1. Determine what the approximate median value of a home in North Dorchester was one year ago (2016).
2. Predict what the approximate median home value in North Dorchester will be one year from now (2018).
3. Assume overall inflation holds at the current annual rate of about 1.57%. Use this inflation rate and adjust the expected 4.3% increase in median value of North Dorchester homes to find the effective percentage increase in value for the coming year to the nearest tenth of a percent.

Price: $2.99

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