6 Features That Determine a Home’s Final Sale Price

  "Some of the most substantial factors that affect the property {price} are about the property itself, such as how big it is, how many bedrooms, how nice it is," said Taylor Marr, a lead economist with real estate brokerage Redfin.  Ultimately, local home prices move up or down depending on the disparity between the number of residences listed for sale and the number of buyers looking to make a purchase. Yet, desirable home features and a favorable location command top dollar in any housing market, whether it is on the upswing or spiraling into a doldrum. Diferences in square...

“Some of the most substantial factors that affect the property {price} are about the property itself, such as how big it is, how many bedrooms, how nice it is,” said Taylor Marr, a lead economist with real estate brokerage Redfin. 

Ultimately, local home prices move up or down depending on the disparity between the number of residences listed for sale and the number of buyers looking to make a purchase. Yet, desirable home features and a favorable location command top dollar in any housing market, whether it is on the upswing or spiraling into a doldrum.

Diferences in square footage, the number of bathrooms and proximity to neighborhood amenities all help explain why a home may be worth thousands of dollars more – or less – than a property just down the road.

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