This week it's back to school for Ocean Springs School District. Classes begin again Tuesday, and this got us thinking about the positive affect school district's can have on property values.
A 2013 realtor.com® survey of nearly 1,000 prospective home buyers showed that 91 percent said school boundaries were important in their search. Buyers are also willing to put their money where their mouths are. One out of five home buyers said they would pay six to 10 percent above their budget for the right school. One out of 10 would double that to 20 percent. Considering that premium could approach $100,000 in a lot of markets, it makes you wonder: How much investment in a school district is appropriate?
Want to know more: this article will dive right in: How much do school districts affect real estate prices?
This is one of the many reasons Ocean Springs property values continue to rise. Ocean Springs was recently recognized as having the #1 ranked High School in the State (US NEWS RANKINGS) . This is an incredible asset to the community and helps to ensure the property values. It's nearly impossible to understate the value this adds to properties within the district.
All signs point to the market continuing to perform well for Seller's as well as providing Buyer's with plenty of inventory to chose from. Sale prices continue to trend upwards in Single Family Homes year over year, with day's on the market remaining steady. Whether you're a buyer or a seller in today's market, you can benefit from the trends!
by Allen Stanfield, Realtor Rain Residential