what is the biggest factor in the price/sq.ft on a condo, between $260 & $683/sq.ft, loc., cond. or how new

Asked by Allan Rauner, Michigan Fri Jul 20, 2007

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Melissa Manc…, Agent, Plainville, MA
Tue Jul 24, 2007
Hi Allan,

I agree with most of these theories. #1 Location, #2 Size, and the reason that Feature Amenities/Condition comes in at #3 is because it’s the only element you CAN change about a property. However, I find that this order of importance is much different for first time buyers. This group of buyers may chose a smaller home that has more improvements just for peace of mind sake.

Melissa Mancini, Realtor, CBR, GRI
Web Reference:  http://MelissaBMancini.com
1 vote
J Lo, Home Buyer, California Glory, Brentwood, CA
Fri Jul 20, 2007
Being in Massachusetts doesn't really change the basic rule of all real estate - be it condo, townhouse, or Single family Residence.

As the say - location, location, location. In some cases if the condition isn't that great - it's the land you are purchasing. Proximity to (FILL IN THE BLANK) determines what buyers will pay when the key factor is identified.

It could be proximity to workplace or amenities - whatever is deemed to be important in a community. In Atlanta - the desired location is deemed ITP - inside the perimeter. What's your key factor in your area?
0 votes
Ki Gray, , Austin, TX
Fri Jul 20, 2007
Every market is different but these are the factors I see that add value.

1) Location close to downtown
2) Good Views
3) Being on a higher floor
4) Quality of construction
0 votes
john allaire, Agent, easton, MA
Fri Jul 20, 2007
In order of importance of affecting price are the following: #1 location #2 size of the condo including square footage & number of bedrooms/bathrooms #3 feature amenities/how new/upgrades. Each of these 3 items can then be broken down into more specifics which I'd be glad to help if necessary. Let us know if this answers your question sufficiently. My best, John Allaire
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