While nobody wants summer to end……time marches on. With mid August comes the first day of school for several of the local districts. We wish all of the kids and students a great school here and hope that the parents can now catch their breath. Redondo Beach schools start first and things ramp up quickly from there.
To those in real estate it’s no surprise that good schools help drive real estate values in certain neighborhoods and communities. We meet people all of the time that are looking for homes based on either a specific school or district, or more broadly on wanting to be in an area with great schools. Buyers with kids want to be in areas with good schools and that higher demand helps keep values up.
Buyers don’t even need kids to benefit. The stronger the schools the higher the values and more stable the market can be.
A recent CAR study showed that 47% of home buyers said good schools were very importan, 23% said that they were somewhat important, 11% said not very important and 19% said that it was not important at all.
The 19% may not realize just how much of an influence schools play on values and demand. Good elementary schools are often part of a good community and without question most buyers would like to live in a good community.
South Bay schools are generally highly ranked and that creates a very high demand, especially for families thinking of living in this coastal community.
The study also conclued that 43% of consumers age 34 or under believe highly rated schools are very important. 58% of consumers earning more than $100,000 a year think that highly rated schools are very important.