Home prices are continually changing.
House values appreciate in the long term generally.
But, in real estate there are no "sure things".
When your home appreciates you have a more valuable asset to borrow against, and you'll generate a greater profit when you sell.
But how will you know what you're buying right now will appreciate over time? Property values in Greenville shift for a variety of reasons.
Choosing a real estate agent in Greenville who knows the factors that affect local prices is the most important aspect to consider.
The economy is thought to be the greatest factor affecting real estate appreciation.
interest rates, employment, job growth, government programs and numerous other national determinants have a definite effect on your property's worth.
But the most important things that figure your property's value are specific to the local Greenville economy and housing market.
Access to services - Many home buyers choose to live in regions with the most helpful amenities for homes to develop, such as a close proximity to schools and work.
So when it comes to retaining their value, these regions usually appreciate better than others.
Recent sales - Your agent should provide you with data on the recent home sales in the districts that you're asking about. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the area thought to be desirable because of its location or affordability? Have house prices risen or declined over the last 5 to 10 years?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a good blend of work in an area, or does it count on just one industry? Is the mix of commercial and residential development changing?
All these play a role.