Of course it does. As one mentioned, people need to live where they need to live, true but what about all the people who live where they prefer or desire to live? Don't you think climate might be a big part of that decision?
Yes, property values are high in many areas with a harsh climate but imagine how much higher they would be if they had better climates.
Paragon Real Estate Group DRE1844627
Bodies of water can make a huge impact on price though. People love water views. However, if it is in a floodplain, then this could have a negative effect.
New York City has some of the highest property values in the world and it has very variable weather like Chicago.
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
Although, bad storms which could be associated with natural disasters are another topic altogether. Just consider Katrina or some of the Midwest tornadoes. Homes that are wiped out by weather definitely go down in value and pretty quickly.
Marianne Guenther Bornhoft
Here is a great website that show price changes in the major metro areas.
All the best,
Hawaii, California, Arizona, Florida........Alaska, North Dakota, Wyoming, West Virginia.....
The fact that 1,000 people are moving to Florida daily doesn't hurt property values, even in these difficult times. But there's much more to this success formula than climate....entering into the formula are, employment, social & cultural opportunities, recreation, education, health and safety etc.
Generally, the locations that appear the most attractive to the public capitalize by scoring well in all of the above catagories.
I do think it does affect the traffic and volume of buyers actively viewing homes. Extreme climates have activity cycles that correspond to bad and good weather. I also had a spike in web traffic during the blizzard, so perhaps, people shop online when the weather is terrible...who knows. Point is, local economic factors tend to drive housing prices. If people can't afford to make a living in a region, demand will drop, and so inevitably, will housing values. Of course, if the golf is good, or there's room for a yacht.....maybe not by much.
312 77 BEALS
Zac, i hope you have found this to be useful and resourceful answer. If you have please mark it as best. Thank you,
ps. here is a blog i wrote about home buying.
If people need to live in chicago, people need to live in chicago. New York has pretty bad weather, and Manhattan has some of the most expensive real estate in the country.
Its about the town/city itself, not the weather.
Americorp Real Estate
Brokers Associate, e-PRO