That's a really great question. All real estate is local and the best way to answer your question is with the current sales data.
Here are the average numbers for homes sold after February 2, 2009 in the M Streets and Greenland Hills area:
2 Bedroom Homes
94 Days on the market
1,462 Square feet
$264,185 Average price
$180.43 Per square foot
1936 Average build date
3 Bedroom Homes
94 Days on the market (It's not a mistake, it's exactly the same)
2,058 Square Feet
$346,399 Average Price
$170.39 Per square foot
1947 Average build date
I hope this helps. Let me know if you’d like to see the reports.
That said, the overall market in the M streets has remained very consistent even though other areas have dipped somewhat. There are other variables besides the 2 bedrooms.....what is the overall square footage are there other rooms like a sunroom/den/shop etc that could be used for office space or a guest room?? If you have specific issues or questions, I would be happy to assist you.
Have a blessed day!
Ronda Allen - Realtor, Life Coach, and Certified Purchasing Manager
CEO of comingsoonhomes.com
RE/MAX Dallas Suburbs - The Keith Dobbs Team
Potential based on sq. ft and etc. another room can be converted into a bedroom little expense.
National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
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Keller Williams Realty