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Don Maclary -…, Real Estate Pro in 23451

How much extra value does waterfront actually bring in dollars?

Asked by Don Maclary - Realtor* ABR*, 23451 Thu Mar 28, 2013

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I'm assuming you refer to a nice piece of water, not a steady flow of toxic chemicals.
A friend in San Diego bought a home 15 years ago with a view of Torrey Pines State Beach for about $1.9M (whitewater and top notch sunsets). The same exact model with no ocean view, built at the same time, in the same subdivision with a similar size lot, sold for about $950K.
I think this ratio of about 2:1 is common when the water view is high quality. If the property is literally waterfront, not just water view, I'd add another 50% to the listing price. Space along the water is much more limited than space that can merely see the water.
0 votes Thank Flag Link Fri Mar 29, 2013
What type of setting are you referring too? Water front off a water treatment plant vs Ocean front is a big difference.
0 votes Thank Flag Link Fri Mar 29, 2013
It depends on the location, type of waterfront (ocean, canal), waterfront footage, amenities (boat slip, dock, boat lift), etc.

In terms of a CMA, you'd find an extremely similar home in the same neighborhood/area, not located on the water and the adjustment in sales price would be reflective of the waterfront value.
0 votes Thank Flag Link Thu Mar 28, 2013
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