What causes Medway home prices to fluctuate?

Home prices are continually changing. Generally, property values appreciate in the long term. But, of course, in real estate there are no "sure things".

When your house appreciates you have a more valuable asset to borrow against, and you'll produce a better profit when you sell. There are many different reasons why property values in Medway shift. So, how will you know what you're purchasing presently will appreciate over time? The most important aspect is that you choose an agent in Medway who is familiar with the factors that drive local prices.

Many assume that the economy is the most crucial factor impacting real estate appreciation. Clearly, there are quite a few issues on a national level that adjust your house's value: unemployment, interest rates, consumer confidence, and more. However, your house's value and the aspects that play the most significant role in its appreciation are particular to the local Medway economy and housing market.

Let Betty McCall-Vernaglia help you with your first home purchase in Medway Access to services - Being close to schools, jobs and amenities like shopping, restaurants and entertainment is a priority to many buyers and will greatly influence home values. So when it comes to holding their value, these communities usually appreciate much more reliably than areas lacking key features.

Recent home sales - You should receive reports on the recent real estate sales in the areas that you'd like to live in from your real estate agent. You'll need to analyze figures like time on market and listing price as opposed to selling price.

Appreciation history - Have property prices gone up or down over the past 5-10 years? Is the area believed to be desirable because of its location or affordability?

The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a fair mix of work in an area, or does it rely upon just one industry? Is the blend of commercial and residential development changing? Each of these factors plays a role.

Recognizing the factors that impact your home's price is important. Click here to get an estimation of your property's value. Have any questions? Please feel free to call me at (508) 533-6100 or e-mail me.

Home Status Report

Want to know if a home is still on the market, or if the price has changed? We can help. Simply fill out the information below and with no obligation to you we'll get back to you with your requested information. We guarantee your privacy.

Your Information
Property Information