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How Much Do School Districts Affect Appraised Values in Thurston & Pierce county?

Posted by: In: Epic Appraisal News 17 Mar 2018 Comments: 0

When prospective home buyers are searching for their future home, a number of factors influence their decision. The proximity to their workplace, the size of home, as well as the parcel size, are all important factors depending on the buyer. There is an often overlooked influence which affects market value: School District.  

 

Here in the south Puget Sound, school districts are an important factor with great influence. If you reside in Pierce or Thurston county, you are fortunate to have some of the best school districts in the greater Puget Sound located here.  

 

According to schooldigger.com, Thurston & Pierce county have 8 school districts which are in the top 50 of Washington ranked school. The top school districts in Thurston county include: Griffin School District (Olympia, WA), Olympia School District (Olympia, WA), and Tumwater School District (Tumwater, WA). The school districts in Pierce county include: Dieringer School District (Lake Tapps, WA), University Place School District (University Place, WA), Sumner School District (Sumner, WA), Peninsula School District (Gig Harbor, WA), and White River School District (Buckley, WA). 

 

Appraised values in Olympia, Tumwater, Lake Tapps, University Place, Sumner, Gig Harbor, and Buckley are directly influenced by these great school districts. Statistics show homes located in these school districts having higher average sales prices than competing markets.  

 

With such a high percent of the home-buying population looking for a home in a good school district, there is a high demand for good schools. Demand drives prices higher for a limited product like real estate. Making a decision on buying a home should definitely include an analysis of the school district, even for buyers who don’t intend to send children to those schools. Good schools provide stability for a community, and that’s good for the property values of everyone who lives nearby. 

 

With the importance of how school districts affect the market value of your home, it is important to find a real estate appraiser that understands your market. Epic Appraisal has experienced real estate appraisers throughout King, Pierce, Thurston, and Lewis county. Whether you are looking for a real estate appraisal prior to listing your home for sale, refinance, divorce settlement, estate planning, or personal valuation, we appreciate you trusting Epic Appraisal with your real estate appraisal needs.  

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