It’s no real secret that good schools help drive real estate values in certain neighborhoods and communities. Buyers with kids want to be in
areas with good schools and that higher demand helps keep values up. Even those without kids greatly benefit from a strong school system. The stronger the schools the more insulated a market is from any downturns. That was very evident in Redondo Beach that saw home prices drop during the recession and housing crisis, but only a very small amount compared with other local areas that do not have as strong a school system.
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.
The Torrance Unified School District is 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.
[…] Welcome to the market update for real estate in North Torrance. North Torrance is the neighborhood just off of Artesia Blvd just south of the homes of Lawndale CA and Gardena. This area has some of the more affordable single family home options compared with other parts of Torrance in some great neighborhoods. Some of the reason for homes being less expensive than in West Torrance and Southwood is A) it’s a bit further from the beach B) the neighborhoods are closer to commercial and industrial property so there are some great small streets but they’re generally not far from busier areas and C) the schools are still great but not quite as highly rated. […]