According to a new study that was mentioned in REALTOR® Mag, home buyers are willing to pay a premium for living within a highly-rated school district. Although not terribly surprising, especially for real estate around Chicago, the study, which was conducted by Redfin, looked at median sales prices for homes within certain school districts and comparable homes in the same area served by other, less-notable school systems.
The results of the study are showing that home buyers across the country are willing to spend an average of $50 more per square foot for a home that’s situated in a high-ranking school district than for a home located outside that school or district’s boundary lines. While some claim many other factors go into a home’s purchase price, home buyers with kids will argue that a school district can often be the most important factor in determining which home may be right for them, ultimately backing up premium pricing for real estate for sale near all the best local schools.
Regardless of your opinion, if you happen to be in the market for real estate within your desired Chicago school district, SeeChicagoRealEstate.com is your best source for searching available homes for sale near Chicago high schools, Chicago middle schools, and Chicago elementary schools. Browse MLS listings near all of Chicago’s best schools such as Bell and Blaine Elementary Schools or Lane Tech and Walton Payton College Preps here and as always, give Ted Guarnero a call today to schedule a private showing or to get more information on Chicago real estate near top-ranked schools in the city.
Source: Redfin Study
Ted Guarnero, REALTOR® is a full-time real estate agent with over 1000 homes sold and $400 million in sales. Working with Compass real estate offering professional and effective real estate services to help you succeed in the local real estate market. Visit www.seeChicagorealestate.com for information on downtown Chicago real estate and to get in touch with an expert in the Chicago real estate market. Before you hire your next Realtor call Ted Guarnero 855-See-Chicago, it's on the House !