How do additional bathrooms or bedrooms affect market value in Clark?
In all, 108 homes were sold in Clark from January 1-June 30, 2012. The details of these sales were analyzed to determine how the number of bathrooms and the number of bedrooms affected sales price.
The most obvious statistic is that the more bedrooms a home has, the higher the sales price. 2 bedroom homes sold for 50% more than 1 bedroom homes, and 3 bedroom homes sold for 18% more than 2 bedroom homes. Above 3 bedrooms, however, the sales price increased by about 22% for each additional bedroom.
More than 50% of the homes sold in Clark are 3 bedroom homes, and about 25% are 4 bedroom homes.
Increasing the number of bathrooms in a home improves sales price also, but not nearly as much as increasing the number of bedrooms.
Let’s use 3 bedrooms as our model since 3 bedroom homes in Clark are the most common homes.
Increasing the number of baths in a Clark 3 bedroom home from 1 to 1 ½ increased sales price by 25%, but increasing from 1 ½ bath to 2 baths increased the value by only about 7%. Likewise, the jump from 2 baths to 2 ½ baths increased sale price by about 21%, but from 2 baths to 3 baths only increased sale price by about 27%.
If you have a home in Clark, find out how much it’s worth in today’s market! Call Team Zuhl at 908-917-4189.