‘Walkability’ affects home prices

Screen Shot 2016-08-04 at 7.36.42 AMThe sale price of a home rose for every additional point on a scale of pedestrian friendliness, but not as much at the luxury end, a new study shows

By Leigh Kamping Carder | The Wall Street Journal

Stroll-friendly communities may be the latest housing draw, but in the luxury market, the “walkability premium” is relatively small.

Redfin, a Seattle-based real-estate brokerage, measured the effect of walkability on home values by looking at increases in Walk Score, a 0-to-100 scale that tallies things such as population density and nearby restaurants, schools and stores. A score above 90 is considered a “walker’s paradise” where almost all errands can be done on foot.

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