QUESTION: Would You As A Baton Rouge area Home Buyer Expect To Pay LESS For A 3 Bedroom vs 4 Bedroom IF Both Homes Were 2,500sf Living Area, Same Size in the same Subdivision?
IF SO, HOW MUCH LESS?
Please leave your comment below . Thank you for your time and help!
Why am I asking?
I'm appraising a very rare 3 bedroom in a popular Baton Rouge subdivision off South Sherwood Forest Blvd and the perception from homeowner is my 3 bedroom home will sell for less than a 4 bedroom.
My research shows in Area 43 (70816 & 70817) over 24 months:
29 3 Bedroom sales median sold is $226,000 and $96/sf
152 4 Bedroom sales median sold is $233,750 and $95/sf
4 BEDROOM HOMES SELL FASTER!
4 Bedrooms sold in 57 days vs 70 days for 3 bedrooms
So, it just takes longer to sell a 3 bedroom it seems...
MLS Search Parameters:
$190K to $300K
2200sf to 3000sf
GREATER BATON ROUGE REAL ESTATE DATA NOTE:
Based on information from Greater Baton Rouge Association of REALTORS®\MLS for period 01/01/2014 to 05/13/2016, extracted on 05/13/2016.