How does the number of baths/beds affect sale price in Scotch Plains?

By
Real Estate Agent with Samsel & Associates 0790808
https://activerain.com/droplet/KjN

How do additional bathrooms or bedrooms affect market value in Scotch Plains?

 

In all, 221 homes were sold in Scotch Plains 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 52% more than 1 bedroom homes, and 3 bedroom homes sold for 32% more than 2 bedroom homes. 4 bedroom homes sold for 36% more than 3 bedrooms, and the increase to 5 bedrooms in Scotch Plains increased sale price by about 53%. The jump from 5 to 6 bedrooms represented a sale price increase of 13%.

38% of the homes sold in Scotch Plains are 3 bedroom homes, and 39% 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 4 bedrooms as our model since 4 bedroom homes in Scotch Plains are the most common homes. Increasing the number of baths in a Scotch Plains 4 bedroom home from 1 to 1 ½  baths increased sales price by 55%, but increasing from 1 bath to 2 baths only increased the sale price by about 49%. The 2 bath to 2 ½ bath jump increased sale price by about 50%, and from 2 ½ baths to 3 baths, sale price increased by about 23%.

If you have a home in Scotch Plains, find out how much it’s worth in today’s market! Call Team Zuhl at 908-917-4189.


More Information:

Free Market Report of Scotch Plains! 

Scotch Plains Market Trends 

 

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~ Wayne & Jean 

Union County, NJ - a great place to live and work!

If you're looking to buy or sell a property in Union County, call us at 908-917-4189 or email TeamZuhl@gmail.com.

 

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All opinions, information and data provided is deemed reliable but is subject to errors and omissions. Not intended to solicit other Brokers' clients. We cooperate with them fully. 

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Ambassador
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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

It's difficult to compare the number of bedrooms in a $250,000 home to that of an $800,000 home.  The square feet alone makes some type of catagorization necessary.

What I've found is that, IN THE SAME PRICE RANGE, bedroom/bathroom COUNT does matter.

 

Oct 12, 2012 09:11 PM #1
Rainmaker
90,505
Goran Utvic
606 Homes LLC | Chicagoland Brokers Inc, Chicago IL 60656 - Chicago, IL
We Buy & Sell Chicago Houses Fast

amazing statistics Wayne and Jean Marie...the more baths the better

Oct 12, 2012 09:49 PM #2
Rainmaker
971,111
Beth and Richard Witt
Long Island Cash Home Buyer - Huntington, NY
Long Island Cash Home Buyer 516-330-6940

Congratulations on the feature and you two have a beautiful day!

Oct 12, 2012 10:04 PM #3
Rainmaker
4,431,972
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I agree with Lenn. It depends on price range of the home. In our first time buyer market buyers want a minimum of one and half baths. 

Oct 12, 2012 10:05 PM #4
Rainmaker
1,366,627
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Wayne and Jean Marie, early in my real estate career I found in condos sellers were trying to pass off dens as bedrooms to increase the sales price of a unit.

Oct 12, 2012 10:06 PM #5
Ambassador
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Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

In the same token..there is a time when the number of bedrooms become a liability.. I saw a rambler being advertised with 7 bedrooms!

Oct 12, 2012 10:22 PM #6
Rainmaker
2,422,940
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I laugh sometimes when I read the description of mega mansions and how they emphasize the number of baths (40) and bedrooms (30) and after a while, they all read the same...Lesson of the rich..When in doubt or have free space...make it a bath or servants quarters....lol

Oct 13, 2012 12:04 AM #7
Rainmaker
917,357
Ginger Harper
Coldwell Banker Sea Coast Advantage - Southport, NC
Your Southport~Oak Island Agent~Brunswick County!

Thanks for sharing this with us.  Good post.

Oct 13, 2012 12:35 AM #8
Rainer
293,375
Nan Jester
Exit Real Estate Gallery Jacksonville Beach, FL - Jacksonville Beach, FL
Realtor, Exit Real Estate Gallery

When I first started in 1987, 3/2 was the norm. Then with the advent of computers, then home offices hit, then man caves, TV rooms, etc.  What will we need bedrooms for next?

Oct 13, 2012 01:41 AM #9
Rainmaker
215,080
Todd Anderson
You In Park City group - KW Park City Keller Williams Real Estate - Park City, UT
Park City | Deer Valley Real Estate

Nice post. I am guessing that there is also a correlation in these homes to the size in square feet? Also how many 1 bedroom homes do you see; more than that, how many times do you see a 4 bedroom 1 bath? Seems like a case of functional obsolescence.

Oct 13, 2012 03:24 AM #10
Rainmaker
1,935,082
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Super breakdown on features, what the differences spell out unique to an area.

Oct 13, 2012 03:53 AM #11
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Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

What a thorough analyis of the statistics in your area. I'm very impressed.

Oct 13, 2012 06:25 AM #12
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Wayne and Jean Marie Zuhl

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