Boston metro buyers pay more for this feature
There is one feature making a substantial impact on home prices – and what it is may surprise you. A Redfin study1 examined how much a garage influences prices and the differences among metro areas.
- Boston metro buyers pay 8.5% more ($33,567) on the average property in order to secure a garage. Nationally‚ buyers spend an extra 12%.
- 62.4% of homes sold in 2018 in the Boston area have garages.
- The extremes: Chicago buyers shell out 38% more for a garage; meanwhile, those in Raleigh spend only 2% more.
As always‚ I enjoy staying in touch and sharing useful market data. Here’s to a great week.
1Dana Olsen‚ “A garage in Chicago is worth nearly $47‚000‚ more than any other metro‚” Redfin‚ last updated June 6‚ 2019.