Fluctuating home prices in Sarasota, Venice, and Nokomis, Florida: What causes this?

Real estate values are continually changing. House values appreciate in the long term generally. Understand that in real estate there is always a certain amount of risk.

When your home appreciates, you have a more valuable asset to borrow against, and you get a larger profit when you sell. We all want to be sure what we're buying will appreciate over time, but how can we be sure? Property values in the Sarasota and Venice area waver for numerous reasons. It's critical that you choose a real estate agent who understands the factors that affect local prices.

Many consumers believe that the economy is the greatest factor affecting real estate appreciation. Obviously, there are issues on a national level that change everyone's property's value: unemployment, mortgage rates, inflation, and more. However, your home's value and the features that play the most significant role in its appreciation depend on what's going on in the local economy and what Buyers want.  

Location in a community - Many of us decide to live near convenient amenities such as close proximity to jobs, schools, and the beautiful Florida gulf beaches. Homes in these areas consistently appreciate the best.

Recent sales - Your real estate agent should give you statistics on the recent real estate sales in the subdivision that you're asking about. You'll want to know average time on market, sold versus list price and more.

Appreciation history - Have property prices risen or declined over the last few years? Is the community desirable because of its location or affordability?

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