How much extra value does waterfront actually bring in dollars?

Asked by Don Maclary, Virginia Beach, VA Thu Mar 28, 2013

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John Souerbry’s answer
John Souerbry, Agent, Fairfield, CA
Fri Mar 29, 2013
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.
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Eddie Martini, Agent, Auburn, WA
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.
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Cristyle Egi…, Agent, Lake Park, FL
Thu Mar 28, 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.
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