Does home rear exposure matter?
Absolutely, yes and no! Some buyers will insist that they must have a certain rear exposure, to them it absolutely matters. Many times buyers will insist on south or west exposure. We did a little data diving to see if we could uncover any statistical truths from the past two years of sales in MLS. We chose to look at the southeast and southwest areas of Cape Coral and compiled sales of gulf access pool homes. On the average, these homes were almost identical in size. The actual sales statistics of 534 homes gave us some real data.
Rear exposure Number of sales Median List Price Median Sale Price
South 136 $352,450 $321,250
East 125 $325,000 $320,000
West 143 $330,000 $320,000
North 130 $322,400 $300,000
As you can see, buyers paid almost identical prices for south, east and west exposures. Only north exposure showed lower median sale price 6.25% lower than other exposures. One critique we hear of north exposure is that the pool area can be shaded and colder during the winter. The other side of that is a little more summer shade. It is interesting that sellers with south exposure appeared to price their homes nearly 8% higher than east exposure homes but had to settle for virtually the same sale price. Bottom line is there are buyers for all exposures but statistically buyers pay a little less for north exposure. All are close enough that the individual home features are still the biggest factor on price not the rear exposure.
Steve Koffman
Broker/Associate
Century21 Sunbelt Realty, Inc
239-443-2463 Steve@koffman.com
www.koffman.com
Thanks for the post. I learned new things here.
Andy
Posted by: condo for sale Philippines | 03/28/2011 at 09:34 PM