How do additional bathrooms or bedrooms affect market value in Linden?
In all, 217 homes were sold in Linden 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 39% more than 1 bedroom homes, and 3 bedroom homes sold for 20% more than 2 bedroom homes. 4 bedroom homes sold for 20% more than 3 bedrooms, and the increase to 5 bedrooms in Linden increased sale price by about 32%.
More than 50% of the homes sold in Linden 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 Linden are the most common homes. Increasing the number of baths in a Linden 3 bedroom home from 1 to 1 ½ baths increased sales price by 29%, but increasing from 1 bath to 2 baths only increased the sale price by about 27%. The 2 bath to 2 ½ bath jump increased sale price by about 11%, but from 2 baths to 3 baths, sale price increased only about 10%.
If you have a home in Linden, find out how much it’s worth in today’s market! Call Team Zuhl at 908-917-4189.