What drives property values in Oklahoma City to move up and down?

Property prices are forever in flux. Property values appreciate in the long term generally. But, of course, there are no guarantees in real estate.

When your property appreciates you have a bigger asset to borrow against, and you'll produce a larger profit when you sell. Property values in Oklahoma City shift for different reasons, so how will you be sure what you're investing in presently won't depreciate the day after you close? Choosing a REALTOR® in Oklahoma City who understands the factors that drive local prices is the most important factor to consider.

 
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The economy is thought to be the most crucial factor impacting real estate appreciation. Clearly, there are many issues on a national level that impact your house's value: unemployment, interest rates, quarterly earnings reports, and more. But the most significant issues that decide your property's value are specific to the local Oklahoma City economy and residential market.

Let Dean Lemons & Associates help you with your first home purchase in Oklahoma City Access to services - People typically want homes in the districts with the easiest access to features, like our schools and jobs. So when it comes to retaining their value, these communities consistently appreciate better than others.

Real estate sales trends - What's the time on market? What was the final sales amount compared to the asking price? A lot of data can often be retrieved from public records, but a good agent with a login to the local MLS will often provide a more complete picture.

Appreciation history - Have house prices risen or declined over the last 5-10 years? Is the neighborhood considered desirable because of its location or affordability?

Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a nice mix of jobs in an area, or does it rely upon just one industry? These items play a role.

Recognizing the factors that impact your house's market price is important. Get an estimation of your home's value here. Have any questions? Please feel free to call me at (405) 682-9505 or e-mail me.

Dean Lemons & Associates 1145 W I-240 Service Rd, bldg A Oklahoma City, OK 73139
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