Residential property values refer to the monetary worth of homes and other living spaces in a specific area. These values can fluctuate based on various factors, including location, size, condition, and local market trends. Economic conditions, such as interest rates and employment rates, also play a significant role in determining how much a property is worth. In addition to these factors, the demand for housing in a neighborhood can greatly influence residential property values. Areas with good schools, amenities, and low crime rates often see higher property values. Conversely, neighborhoods facing economic decline may experience a drop in property values, affecting homeowners and potential buyers alike.