What causes home prices to fluctuate in Thurston County and Pierce County?

Over time, the value of a piece of real estate will go up and down. Over a long enough period of time, home values , for the most part, appreciate. But, of course, in real estate there is always a certain amount of risk.

When your home appreciates you have more resources to borrow against, and you'll see a bigger profit when you sell. But how do you know what you're purchasing this year will appreciate over time? Property values in Olympia fluctuate for a variety of reasons. It's imperative that you pick a REALTOR® in Olympia who understands the factors that affect local prices.

Many assume that the economy is the greatest factor impacting real estate appreciation. Obviously, there are a lot of factors on a national level that affect your house's value: unemployment, interest rates, quarterly earnings reports, and more. However, your house's value and the things that play the most significant role in its appreciation are particular to the local Olympia economy and housing market.

Let Cherie Allen,  Riley Jackson Real Estate help you with your first home purchase in Olympia Access to services - Convenient access to schools, work and amenities like shopping, restaurants and entertainment is a big deal to a lot of us and will greatly influence home values. So these regions often appreciate, or keep their value, best.

Recent home sales - You should receive data on the recent real estate sales in the districts that you're asking about from your agent. You'll need to know data like time on market and listing price versus selling price.

History of appreciation - In the last 5-10 years, have house prices gone up or down? Does location or affordability affect how desirable the neighborhood is thought to be?

Local economy - Is there a nice combination of business in an area, or does it count on just one industry? Have companies moved into or away from an area? Are local companies hiring? Each of these factors plays a role.

Learning the factors that impact your home's market price is important. Visit this link for an assessment of your property's value. Note that this is an estimator only and does not take the place of an appraisal performed by a licensed appraiser.   
If you have any questions, call me at 3605528001 or e-mail us .

Looking to Sell?

Are you looking to sell your house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

Your Information
Some Details
By checking the box, you agree that Cheryl "Cherie" Allen, Riley Jackson Real Estate may call/text you about your inquiry, which may involve use of automated means and prerecorded/artificial voices.. Message/data rates may apply.

Cheryl "Cherie" Allen, Riley Jackson Real Estate

2415 Evergreen Park Dr SW #D
Olympia, WA 98502