If you are shopping for properties these days, you may have noticed 'walk score' in the information are for the property online. Walk Score is a service that measures the distance of a property to important locations such as grocery stores, schools, etc. and then calculates an overall rank. This allows buyer the ability to better guage transportation costs in regards to making a home purchase.
Does it make a difference to buyers and property values? For example, does a property with a higher 'walk score' have a higher property value than a comparable property with a lower walk score? That's not so easy of a question to answer. According to a study of 15 major markets, 13 out of 15 of the markets showed higher property values for properties with higher walk scores.
The issue with looking at 'walk scores' in regards to property values is that you really can't compare market to market or a variety of different homes either. What a property will sell for is always based upon comparable sales within a reasonable distance. 'Walk score' then becomes a feature of the home that may be more 'attractive' to certain buyers dependent upon their lifestyle. Although I haven't had buyers directly refer to a 'walk score', buyers are often interested in the distance of things such as shopping and schools to a property. This deosn't always mean that all of these items being close to a property are more attractive to all buyers. For example, schools for a buyer with no children obviously would not be of any 'value' to them.
So what are your thoughts. Is a 'Walk Score' important information to you when shopping for a property?