Thursday
July 24, 2014

Street Names Make a Difference on Asking Prices?

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Street Names Make a Difference on Asking Prices?

The street name of a neighborhood can affect the asking price on a home, at least according to a new survey by Trulia. 

Trulia analyzed the median asking price per square foot among various types of address suffixes, like “Lane” and “Park.” 

Street addresses with the words “Boulevard,” “Place,” and “Road” were found to have higher average asking prices than homes with addresses ending in “Avenue,” “Drive,” or “Street,” according to the Trulia study. 

For example, homes that were located on streets with the word “Boulevard” in the address sold on average about $117 per square foot compared to properties located on addresses with “Lane,” which would sell on average for $101 per square feet, or “Street,” which sold for about $86 per square foot. 

Homes that had “Boulevard” in the address had the highest asking prices of all the street-names Trulia studied. 

Source: “Is it Better to Live on Park Boulevard or Park Lane?” HousingWire (Sept. 26, 2012)