Question

Hedonic Price

Given:

• Your property has 3,000 square feet, 4 bedrooms, 3 baths, a 20,000 square foot lot, brick exterior, and is in “good” condition.
• You propose to sell this property for $200,000.

New Information:

• A comparable property was recently sold for $175,000 three months ago.
• It had 3 bedrooms, 3.5 baths, 2,500 square feet, a 25,000 square foot lot, frame exterior, and is in “excellent” condition.

Question: (Using New Information)

What is the indicated value of your property?

Answer 1

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