Understanding North Kingstown home prices

Real estate values are forever in flux. By and large, property values appreciate in the long term. But, of course, in real estate there are no "sure things".

When your property appreciates you have a more valuable asset to borrow against, and you make a higher profit when you sell. But how will you know what you're investing in presently will appreciate over time? Property values in North Kingstown go up and down for various reasons. The most important aspect is that you pick an agent in North Kingstown who recognizes the factors that drive local prices.

A lot of people assume that the economy is the number one factor affecting real estate appreciation. It goes without saying that there are several factors on a national level that adjust your property's value: unemployment, mortgage rates, inflation, and more. However, your home's value and the components that play the biggest role in its appreciation are particular to the local North Kingstown economy and housing market.

Let Greater R.I. Properties, LLC help you with your first home purchase in North Kingstown Location in a community - Proximity to schools, jobs, and amenities also have a huge effect on most home buyers' decisions. So these areas typically appreciate, or hold their value consistently, year to year.

Recent home sales - You should receive reports on the recent real estate sales in the neighborhoods that you're interested in from your agent. You'll want to learn things like how long a house stays on the market and listing price as opposed to selling price.

The appreciation history - Is the area considered desirable because of its location or affordability? Have house prices increased or decreased over the last 5-10 years?

Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a good combination of job types in an area, or does it rely on just one industry? All these play a part.

It's smart to be informed about the factors that impact your home's price. Click here to get an assessment of your house's value. Call me at 401-932-9005 or e-mail me if you have any questions at all. I'd love to hear from you.