Gauging the Perfect Time to Sell Your Home
Perfect time to sell
Homes are an investment and there are plenty of things that can influence the selling price of your home. The neighborhood, current condition of the surrounding homes and the current condition of your home all play a huge factor in determining the value or selling price of your home and the perfect time to sell. There are other things that can influence the value of your home as well. New research has shown that the price of gas can ultimately have an impact on the value of your home. Yes, you read that correctly. Gas prices do seem to have an impact on the value of your home.
How Do Gas Prices Influence the Price of Your Home?
A recent study conducted in the Las Vegas area has shown some interesting insight into this question. Over 900,000 home sales were studied. The sales ranged from the year 1976 to the year 2010. Gas prices for the same years were compared to the rising or falling value of homes. An interesting pattern started to emerge.
Home values reached new heights at the same exact time gas prices ascended to new heights as well. The study also showed that homes closest to the center of the city saw the highest increase in value. Homes further from the center of the city saw their values fall just slightly. The overall value increase was an average of around $5000 for each home. The homes which experienced a decrease in value fell an average of $8000.
Another interesting thing to note was that home values declined as more fuel efficient vehicles were introduced on the market.
What Does This Mean for Homeowners?
Homeowners are always looking for the perfect moment to sell their homes. Being able to make a profit from such a huge investment is something every single homeowner wants to be able to accomplish.
Homes located closer to bigger cities may want to wait until gas prices rise before they list their homes on the market. Higher gas prices could mean higher home values!