How do additional bathrooms or bedrooms affect market value in Rahway?
In all, 164 homes were sold in Rahway 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 35% more than 1 bedroom homes, and 3 bedroom homes sold for 47% more than 2 bedroom homes. 4 bedroom homes sold for 30% more than 3 bedrooms, but the increase to 5 bedrooms in Rahway only increased sale price by about 3%.
More than 50% of the homes sold in Rahway are 3 bedroom homes, and about 21% 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 Rahway are the most common homes. Increasing the number of baths in a Rahway 3 bedroom home from 1 to 2 baths increased sales price by 15%, but increasing from 2 bath to 3 baths actually decreased the sale price by about 23%.
If you have a home in Rahway, find out how much it’s worth in today’s market! Call Team Zuhl at 908-917-4189.