Understanding Avondale home prices
Property prices are continually changing. Over a long enough period of time, house values typically go up. But, of course, in real estate there are no "sure things".
When your house appreciates you have a larger asset to borrow against, and you'll generate a better profit when you sell. Property values in Avondale vary for a variety of reasons, so how will you know what you're buying today won't depreciate the day after you close? Choosing an agent in Avondale who recognizes the factors that affect local prices is the most important part.
Many believe that the economy is the most critical factor impacting real estate appreciation. Obviously, there are numerous factors on a national level that alter your house's value: unemployment, interest rates, business growth, and more. But the most important issues that determine your property's value are particular to the local Avondale economy and residential market.
Access to services - Being close to schools, employment and amenities like shopping, restaurants and entertainment is important to a lot of families and will greatly influence home values.
So those areas usually appreciate, or hold their value, best.
Real estate sales trends - How fast are homes selling? What was the final sales amount versus the listing price? A lot of data can often be retrieved from public records, but a good agent with a login to the local MLS will usually be able to provide a more complete picture.
The appreciation history - Is the community believed to be desirable because of its location or affordability? Have home prices gone up or down over the past 5 to 10 years?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a good mix of jobs in an area, or does it count on just one industry? Is the mix of commercial and residential zoning changing? Each of these factors plays a role.