How do additional bathrooms or bedrooms affect market value in Union?

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

How do additional bathrooms or bedrooms affect market value in Union?

 

In all, 341 homes were sold in Union 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 143% more than 1 bedroom homes, and 3 bedroom homes sold for 25% more than 2 bedroom homes. 4 bedroom homes sold for 14% more than 3 bedrooms, and the increase to 5 bedrooms in Union actually decreased sale price by about 3%.

48% of the homes sold in Union are 3 bedroom homes, and 27% 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 Union are the most common homes. Increasing the number of baths in a Union 3 bedroom home from 1 to 1 ½  baths increased sales price by 22%, but increasing from 1 bath to 2 baths only increased the sale price by about 24%. The 2 bath to 2 ½ bath jump increased sale price by about 14%, but 3 bathroom homes sold for less than 1% more than 2 ½ bathroom homes.

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

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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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Real Estate Market Trends
Location:
New Jersey Union County Union
Tags:
buying a home
selling a home
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Rainmaker
1,282,430
Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

Some nice statistical charts to prove your point.  Thanks for sharing information.

Oct 13, 2012 01:53 AM #1
Rainmaker
292,627
Steve Davis
Davis Coastal Properties - Carlsbad, CA
Carlsbad CA

How does the number of bedrooms and baths effect the selling price if the homes are all the same size?  You have done a lot of work to show the number of homes selling. Good Information!

Oct 13, 2012 02:05 AM #2
Ambassador
1,822,450
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi there Team Zuhl - I imagine the square footage also has a direct correlation to the price increase, or no? At any rate, interesting stats and I wish you great weekend in New Jersey.

Oct 13, 2012 02:05 AM #3
Rainmaker
3,186,531
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jean Marie & Wayne this  is great information. I need to look at this in my market as well!

Oct 13, 2012 09:53 AM #4
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Rainmaker
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Wayne and Jean Marie Zuhl

The Last Names You'll Ever Need in Real Estate
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