Understanding Milton and Boston area home prices
Property values are continually changing. Over a long enough period of time, property values , for the most part, go up. But, of course, there are no guarantees in real estate.
When your home appreciates you have a greater asset to borrow against, and you make a bigger profit when you sell. But how will you know what you're purchasing today will appreciate over time? Property values in Milton change for different reasons. It's important that you go with a REALTOR® in Milton who knows the factors that drive local prices.
A lot of people think that the economy is the number one factor impacting real estate appreciation. Obviously, there are many factors on a national level that adjust your home's value: unemployment, mortgage rates, the stock market, and more. But the most influential issues that figure your house's value are particular to the local Milton economy and housing market.
Access to services - Proximity to schools, jobs, and amenities also have a huge impact on all home buyers' choices. So these regions often appreciate, or retain their value, best.
Recent sales - Your real estate agent should provide you with stats on the recent real estate sales in the regions that you're interested in. You'll want to know average time on market, selling versus listing price and more. List of homes sold and active awesome tool to have sent to your
Appreciation history - Have home prices increased or decreased over the past 5 to 10 years? Is the neighborhood thought of as desirable because of its location or affordability?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a good combination of job types in an area, or does it count on just one industry? Is the blend of commercial and residential zoning changing? These items play a part.
Identifying the factors that affect your property's market price is important. Visit this link
for an assessment of your property's value. Have any questions? Please feel free to call me at (617) 696-6100 or e-mail me