What drives property values in Columbia to move up and down?

Home prices are continually changing. Property values appreciate in the long term by and large. But, of course, in real estate there are no "sure things".

When your home appreciates you have more resources to borrow against, and you'll produce a greater profit when you sell. But how can you be sure what you're purchasing right now will appreciate over time? Property values in Columbia move up and down for different reasons. It's critical that you select an agent in Columbia who understands the factors that drive local prices.

Find My Home's Value

What is the top factor affecting real estate appreciation? Many are convinced that it's the economy. Naturally, there are some factors on a national level that influence your property's value: unemployment, interest rates, business growth, and more. However, your house's value and the features that play the biggest role in its appreciation are particular to the local Columbia economy and housing market.

Let Paul Gillum Realty help you with your first home purchase in Columbia

Let Paul Gillum Realty help you with your first home purchase in Columbia

Location in a community - Proximity to jobs and schools also have a huge influence on most home buyers' choices. So when it comes to retaining their value, these communities generally appreciate the best.

Recent sales - Your agent should give you figures on the recent home sales in the areas that you're interested in. You'll want to know average time on market, selling versus listing price and more.

Appreciation history - Have home prices gone up or down over the last 5-10 years? Is the neighborhood considered desirable because of its location or affordability?

The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a nice combination of business in an area, or does it rely on just one industry? Is the blend of commercial and residential zoning changing? All these play a part.


	It's worthwhile to know the factors that play into your house's financial worth. Click here to receive an estimation of your house's value. Call me at 803-537-3725 or e-mail me if you have any questions at all. I'd love to hear from you.