School districts (and individual local schools) are one of many factors for home buyers to consider. Of course, the relative importance of any factor will vary depending on the buyer. For some, school districts won't matter much, for others they may be the defining issue. That being said, a good school district and strong local schools are generally considered as pluses, and all other things being equal, such homes will probably sell for a premium. This may also be a factor in projecting resale opportunities.
The flip side is that if it's not especially important to you, you may find a better value in terms of square footage, amenities etc in areas where that premium doesn't apply.