30 Paulson Drive Burlington

Market Analysis for:

Jayant & Shweta Aphale

Updated: 4/20/2018

I've done a market analysis on your home at 30 Paulson Drive in Burlington and have prepared this document to help explain how I've arrived at a price for your home. I perform a market analysis and calculate a price taking into consideration a home’s location, size, configuration, number of bedrooms and baths, lot size and general condition. I also scrutinize the home for issues that, in my experience, will impact the price of a home making it more or less valuable. Then, I look at your current competition - the other homes that buyers in your price range will be viewing, to help determine your price.

Contents

  1. Description of Home
  2. Market Dynamics
  3. Analysis of Relevant Properties
  4. Pricing Recommendation
  5. Marketing

Description of home

Please note that these comments do not relate to marketing, but are included purely to ensure that we have captured the information and reflect the major components of your home.

Your home has lovely curb appeal and sits on a 0.48 acre lot and was built in 2016. It has 4006 sq ft of living area including the basement based on the prior listing info. Once we have floor plans drawn up we will be able to verify this sq footage. It has 4/5 bedrooms (if you count the office) and 3.5 bathrooms. It has a 3 car garage, forced hot air, central air. 

Your home is a colonial home that is about 18 months old. As you walk up to the front entry you have a covered porch area which has a rock tile facade and columns framing the front door.  As you walk in the front door you have stairs leading up to the second floor on the right hand side, open to the kitchen directly in front, and the living room off to the left via an arched cased opening flanked with columns. The living room has a gas burning fireplace, dark accent trim in the hardwood floors, crown molding. The office/bedrooom is to the left of the entry to the living room from the hallway. The office has a french door, wainscoting and crown molding. Adjacent to the office/bedroom is a full bathroom with wainscoting. The kitchen is huge. It has stainless steel appliances, cherry cabinetry to the ceiling, a huge breakfast bar island, glass tile backsplash and an informal dining area with a french door leading out to the deck and a huge backyard. There is also a set of cabinets styled after a china cabinet with glass fronted uppers and a beverage fridge below. 2 pantry cabinets are in the kitchen, along with a double closet with shelving. The dining room has wainscoting, ceiling detail and is open to the kitchen via an arched cased opening with flanking columns. The family room is huge and is open to the kitchen area via an arched cased opening flanked with columns and has a coffered ceiling, triple windows and a gas burning fireplace with a stone tile facade.

Up the stairs to the second level you have a landing with a huge master bedroom with triple windows, crown molding, huge walk in closet with a granite counter desk area and access to the master bathroom. The master bathroom is huge with a dual sink large vanity, with upright cabinets to the ceiling on either end, ceramic floor tiles, wainscoting, huge shower with granite wall, rainhead, and frameless glass door and wall, jacuzzi, crown molding. The family bathroom has dual sink vanity, granite counter, ceramic floor tiles, vinyl tub/shower. The laundry is beautifully finished with shaker style white cabinets, granite counter, shelving and hanging space. 3 great size bedrooms, each with crown molding and closets with closet systems and crown molding.

Downstairs the basement is finished. It has wall to wall carpet and is finished to the same quality as the above ground living areas. There is another family room which has a large shelved closet and full bathroom. The bathroom has ceramic floor tiles, a smaller modern vanity and a vinyl shower. A closet and mudroom cubbies are close to the door to the 3 car garage. There is hot/cold water faucets in the garage. A utility room with a radon mitigation system completes the basement level.

There is a 3-car attached garage and approx 6 off-street parking areas.

Return to Top

Market Dynamics

We have been experiencing shortages of housing inventory in Burlington over the last 5 years or so. There are always a number of buyers looking to buy in Burlington because of the the community dynamics, the popular restaurant and shopping scene and the vibrant downtown. The  conservation areas close by pull those who desire an outdoor lifestyle while still remaining within commuting distance to Boston.

The Burlington market has seen increasing prices over the last few years given the limited inventory. The demand for homes in Burlington far outweighs the supply and each month a snapshot of available homes for sale shows the declining inventory levels.

Average prices in Burlington are well above average prices obtained in the peak of the market in 2005. Average single family home prices have been increasing steadily since 2011. The real estate market downturn that existed for the last few years is well and truly over and prices are continuing to increase each year.

Sales distribution statistics for single family homes show that the $400K price-range is the most active in Burlington. The next busiest price range in Burlington is the $500K price range. .

Before reviewing the price per sq foot charts it is important to throw in a caveat of using the average as the definitive guide. There is wide variability among agents as to what is included in the living area reported in MLS. In some instances, agents will include a finished component of the basement in the living area and this is acceptable so long as how the living area is calculated is disclosed. Others report the living area reported in public record, which never includes finished areas in the basement, but note in MLS that there is a finished basement. To this end, it is important to review each individual listing to determine the ‘true’ price per sq. ft. of above ground living area, but we also need to factor into this when a home has a finished basement.

Reviewing the price per sq. foot charts for single family homes shows us that the average price per sq. ft. in Burlington around the $1M -1.5M price range is around $268 per sq. ft. It’s important to note that the maximum price per sq. ft. achieved varies across most price ranges, along with the minimum obtained for each price range.

When the year built in the 2010’s the average price per sq. ft. is $284.

The chart below shows that single family homes in Burlington of similar size to your home in the 4,000 square foot range, have an average price per square foot of $248 but it increases to $255 per sq. ft. when you decrease to the 3,000 square foot range. It is common across municipalities to see an increase in the price per square foot for smaller sized homes, as it reflects the minimum cost of a home in a town irrespective of the property size.

The chart below shows how many months’ supply of inventory there is in a given price range. It uses the assumption that given the same rate of sales over the prior 12 months, and considering current inventory available for sale, how many months it should take to sell the available inventory. This is referred to “Absorption” in the real estate world. 

Any price range where there is more than 7 months’ supply, we consider there to be an oversupply of inventory, also known as a ‘buyer’s market’. Anything between 4 – 6 months is considered a balanced market. Anything less than 3 months’ supply is considered a shortage of inventory on the market at this price range, also known as a ‘sellers’ market’. As can be seen, currently, absorption rates for all homes in the $1M-1.5M price range are less than 2 month’s supply showing a shortage.

Return to Top


Analysis of Relevant Properties

The following map shows the  homes that we believe to be of value in determining the price of your  home. Below the map you will find basic information  provided for each home including the price the home was  listed at, and the price the home sold at (if sold), the listing date, Days on market, Bedrooms, Bathrooms, living area size and lot size.  Noted for each home is a classification of Relevance which outlines whether we think the  property is valued Less (L), Relevant/Comparable (R) or Higher (H) than  your home. The notes for each home outlines the similarities and differences between  your home and the one being analyzed.

Your details: Living area 4006 sq ft | 4/5 beds | 3.5 baths | Lot size 0.48 acres | Built 2016 | 3 car garage

This colonial style home is new construction in 2018.  It is a little larger than your home with 4,270 sq ft of approx living area which includes a finished lower level. Your home has 4,006 sq ft of living area including the basement based on the prior listing info.  This home has the same number of bedrooms as your home, both having 4 bedrooms. It also has the same number of bathrooms as your home, both having 3 full and 1 half bathrooms. It sits on a similar size 0.46 acre lot whereas your home sits on a 0.48 acre lot.
Upon entry to the open foyer, the formal dining room is on the right and it has tray ceiling, wainscoting, chair rail, hardwood floors, and crown molding. This home does not have a living room but a sitting room which is adjacent to the kitchen and has a large family room which has a fireplace with white mantel, chair rails, and transom windows on either sides, double windows, crown molding, and hardwood floors. It is open to the eat-in kitchen through an archway with columns. The kitchen has a breakfast bar island, granite countertops, ceramic tile backsplash, white cabinets with some glass panel doors, high end stainless steel appliances, and hardwood floors. It has an exterior access to the deck through sliding glass doors in the eat in kitchen which has a tray ceiling. The master suite , 3 more bedrooms, and a family bathroom are on the upper level. The master bedroom has a huge walk in closet, 2 other double closets, hardwood floors, and an attached bathroom. The master bathroom has double sink vanity with granite countertops and white cabinets, a shower stall with frameless glass door, and a jacuzzi. The family bedrooms have hardwood floors and share a family bathroom which has double sink vanity and granite countertop. The finished lower level has laminate flooring and has a wet bar and a full bathroom.
This home has an attached 2 car garage and paved 4 car off street parking, and has forced air heating and central air cooling. It was listed for $1,100,000 and went under agreement in 3 days so it has more than likely sold for the asking price or more. This home was on the market for $258 per sq ft.

Relevance: Relevant, but higher.  Given the larger size of the home (264 sq ft), new construction, only 2 car garage vs your 3 car garage I believe that once all factors are considered the home is relevant, but will most likely sell for a little more than your home. We don't know what it will sell for until the end of April. 

Your details: Living area 4006 sq ft | 4/5 beds | 3.5 baths | Lot size 0.48 acres | Built 2016 | 3 car garage

This colonial style home was newly built in 2017.  It is of similar size as your home with 4,000 sq ft of approx living area which includes a finished lower level. Your home has 4,006 sq ft of living area including the basement based on the prior listing info.  This home has 5 bedrooms. It has the same number of bathrooms as your home, both having 3 full and 1 half bathrooms. It sits on a similar size 0.46 acre lot whereas your home sits on a 0.48 acre lot.
From the open foyer, the living room is on the right and it has bay windows, crown molding, wainscoting, hardwood floors and has an open floor plan with the formal dining room through an arched opening with double columns. The formal dining room has a tray ceiling, double windows, wainscoting, and hardwood floors. The family room has a fireplace, a vaulted ceiling, double windows, and hardwood floors and is open to the kitchen. The kitchen has a breakfast bar island with white cabinetry, high end stainless steel appliances, granite countertops, ceramic tile backsplash, cherry cabinets with glass panels on some cabinets overhead, a pantry, hardwood floors, and an exterior access to the deck through a sliding glass door in the informal dining area. This level also includes an office by the left of the foyer through french doors and it has a coffered ceiling, wainscoting, and hardwood floors. The master suite, 3 family bedrooms, and a family bathroom are on the upper level. The master bedroom has a walk in closet, wall  to wall carpeting, and an attached bathroom. The master bathroom has double sink vanity with granite countertops and cherry cabinets, a shower stall. The family bedrooms have wall to wall carpeting and share a family bathroom which has double sink vanity and granite countertop. The finished lower level has wall  to wall carpeting and has another bedroom and a full bathroom.
This home has an attached 2 car garage and 4 car off street parking, and has forced air heating and central air cooling. It was listed for $1,100,000 but price was dropped to $1,050,000 before it went under agreement and was finally for $1,035,000 after 80 days on the market. This home sold for $258 per sq ft.

Relevance: Relevant, but less.  Given the similar size, but inferior features like wall to wall carpets on the upper level, a bedroom in the lower level, 2 car garage I believe this home is relevant to your home but yours will sell for more.

Your details: Living area 4006 sq ft | 4/5 beds | 3.5 baths | Lot size 0.48 acres | Built 2016 | 3 car garage

This colonial style home was built in 1996.  It is larger than your home with 4,208 sq ft of approx living area which includes a finished lower level. Your home has 4,006 sq ft of living area including the basement based on the prior listing info.  This home has 5 bedrooms. It has the same number of bathrooms as your home, both having 3 full and 1 half bathrooms. It sits on a similar size 0.46 acre lot whereas your home sits on a 0.48 acre lot.
The living room has custom built ins, hardwood floors, and has an open floor plan with the formal dining room. The formal dining room has crown molding, wainscoting, and hardwood floors. The family room has a fireplace with a stone tile facade to the ceiling, wall to wall carpeting, and has an open floor plan with the eat in kitchen. The kitchen has a breakfast bar island, granite countertops, ceramic tile backsplash, white cabinets, white appliances, ceramic tile floors, and an exterior access to the deck. The master suite, 3 family bedrooms, and a family bathroom are on the upper level. The master bedroom has a walk in closet, wall  to wall carpeting, and an attached bathroom. The master bathroom has double sink vanity with corian countertops and white cabinets, a shower stall, and a jacuzzi. The family bedrooms have wall to wall carpeting and share a family bathroom. The finished lower level has wall  to wall carpeting and has another bedroom, a kitchenette, and a full bathroom.
This home is located in Fox Hill neighborhood. It has an attached 3 car garage and paved 4 car off street parking, and has hot water baseboard heating and central air cooling. It was listed for $1,149,000 but price was dropped to$1,049,000 before it went under agreement and was finally for $1,049,000 after 77 days on the market. This home sold for $249 per sq ft.

Relevance: Relevant but less. Given that this home is 22 years old some of the details in the home are dated, wall to wall carpeting is through much of the home, fan swirled plaster ceilings date the home. The home is larger in sq footage and is in a very popular location, but when everything is taken into account I believe this home is relevant to yours but yours will sell for more.

Your details: Living area 4006 sq ft | 4/5 beds | 3.5 baths | Lot size 0.48 acres | Built 2016 | 3 car garage

This colonial style home was newly built in 2016 and took 282 days to go under agreement, so it was new construction when sold. It has lovely curb appeal with a farmers porch and nice lines. It is of similar size as your home with 4,100 sq ft of all above ground approx living area. Your home has 4,006 sq ft of living area including the basement based on the prior listing info.  This home has the same number of bedrooms as your home, both having 4 bedrooms. It has the same number of bathrooms as your home, both having 3 full and 1 half bathrooms. It sits on a larger size 0.75 acre lot whereas your home sits on a 0.48 acre lot.
The front wall of the farmers porch has stone tile facade and is very impressive. From the foyer, as you walk in the door you note the extra detail millwork that has been done in the home. The home office is accessible through french doors. It has bay windows, crown molding, wainscoting, and hardwood floors. The living room is on the left and it has an open floor plan with the formal dining room defined by an arched opening with columns. Both has crown molding, wainscoting, and hardwood floors while the formal dining room has a tray ceiling. The family room has a fireplace with granite facing and white mantel, a cathedral ceiling, triple windows, and hardwood floors and it has an open floor plan with the kitchen and informal dining area. The kitchen has stainless steel appliances, white cabinetry to the ceiling, a breakfast bar island, granite countertops, ceramic tile backsplash, hardwood floors, and has an exterior access to the deck through sliding glass doors. The master suite and the rest of the family bedrooms are on the upper level. The master bedroom has a huge walk in closet with nice built ins, hardwood floors, and an attached bathroom. The master bathroom has double sink vanity with granite countertops and white cabinets, a huge shower stall with frameless glass door, and a jacuzzi. The family bedrooms have hardwood floors and share a family bathroom which has double sink vanity and granite countertop. The 3rd level is a bonus room which has a cathedral ceiling, wall to wall carpeting, and an attached bathroom.
This home has an attached 2 car garage and paved 6 car off street parking, and has forced air heating and central air cooling. It was initially listed for $1,250,000 but price was dropped to $1,198,000, and then to $1,149,000 after it went under agreement and was finally sold for $1,050,000 after a total of 282 days on the market. This home sold for $256 per sq ft.

Relevance: Relevant. Given the similar size, but all of this homes living area is above ground, new construction, larger lot, but with it coming on the market overpriced it ended up selling for below its market value and I believe it is relevant to your home.

Your details: Living area 4006 sq ft | 4/5 beds | 3.5 baths | Lot size 0.48 acres | Built 2016 | 3 car garage

This home has just come on the market in the last week.  It is new construction and is just a little smaller than your home at 3924 sq ft which is all above ground living area.  Your home is 4006 sq ft which includes the finished lower level. It has 5 true bedrooms whereas we are counting your office to make 5 bedrooms.  It has the same number of bathrooms as your home at 3.5 bathrooms. It has a 2 car attached garage whereas your home has a 3 car garage. It is on a smaller lot than your home at 0.23 acres, whereas your home is on 0.48 acres.  The buyer still has some time to make choices in finishes so it won't be a 'real' home until it is finished as most buyers don't have the vision needed to finish a home in their own style.

Relevance:  Relevant but higher.  Given that this home is new construction, in a similar neighborhood a short distance away, albeit only having a 2 car garage, I believe that buyers would prefer to buy completely new construction of a similar size than a home which is a couple of years old and has had another family already living in it.

Your details: Living area 4006 sq ft | 4/5 beds | 3.5 baths | Lot size 0.48 acres | Built 2016 | 3 car garage

This is your home.
It was initially listed for $1,200,000 but the price was dropped several times (to $1,180,000, $1,160,000, then to $1,150,000) before it went under agreement and was finally sold to you for $1,095,000 after a total of 223 days on the market. You bought this home sold for $273 per sq ft.

Relevance: Obviously relevant :-)

Your details: Living area 4006 sq ft | 4/5 beds | 3.5 baths | Lot size 0.48 acres | Built 2016 | 3 car garage

This home is new construction and is a short distance from your home.  It is the same size as your home with 4000 sq ft, yours is 4006 sq ft. This home has 4 finished levels including a full walkout.  It has 1 more bedroom than yours even if you consider your office a bedroom, as it has 6 bedrooms. Your home has 4/5 bedrooms. It has the same number of bathrooms as your home at 3.5 bathrooms. The home is on the same size lot of 0.48 acres. It also has a 3 car attached garage.  The home has a stunning, large white kitchen with a huge cneter island, quartz counters, stainless steel appliances, glass tile backsplash. The home has lovely finishes with detail woodwork throughout, large informal dining area with french doors out to the deck. The family room has a lovely rock tile lined chimney with a white mantel. The master is huge with a huge walk in closet, and full bathroom with a freestanding tub. It started on the market at $1,175,000, dropped to $1,150,000, then dropped again to $1,100,000 when it finally went under agreement after 30 days at that price, for a total on the market of 108 days.  Given that it didnt go under agreement immediately we should assume that it sold for less than the asking price.

Relevance: Relevant, but higher.  Given that the home is the same size, similar lot size, same garage count, 1/2 more bedrooms and the very important distinction of it being brand new construction I believe this home is relevant to yours but it should sell for more than your home.

Your details: Living area 4006 sq ft | 4/5 beds | 3.5 baths | Lot size 0.48 acres | Built 2016 | 3 car garage

This colonial style home was also a new construction built in 2017.  It is larger than your home with 4,600 sq ft of above ground approx living area not including its unfinished lower level. Your home has 4,006 sq ft of living area including the basement based on the prior listing info.  This home has the same number of bedrooms as your home, both having 4 bedrooms. It also has an office on the first floor, a large playroom on the second floor over the garage, and a finished third floor. It has 1 less bathroom than your home, having 2 full and 1 half bathrooms. It also sits on a 0.48 acre lot as your home does and is located about 1 mile from your home.
The main living area has an open floor plan with hardwood floors, crown molding, and lots of windows. The living room has a contemporary gas fireplace. The kitchen has high end stainless steel appliances, lots of white cabinets, a breakfast bar island, granite countertops, ceramic tile backsplash, wine chiller, hardwood floors, and has an exterior access to the deck through sliding glass doors. This level also includes an office with crown molding, wainscoting, and hardwood floors, and the main level bathroom adjacent to it. The master suite and the rest of the family bedrooms are on the second floor. The master bedroom has a cathedral ceiling, a walk in closet, hardwood floors, and an attached bathroom. The master bathroom has double sink vanity with granite countertops and white cabinets, and a shower stall with frameless glass door. The family bedrooms have hardwood floors and share a family bathroom which has double sink vanity and granite countertop. This level also has a bonus room which has a cathedral ceiling, and hardwood floors. The 3rd level is also a bonus room which has a cathedral ceiling, and wall to wall carpeting.
This home has an attached 2 car garage and 6 car off street parking, and has forced air heating and central air cooling. It was initially listed for $1,250,000 but price was dropped to $1,199,000 and then to $1,149,900, before it went under agreement and was finally sold for $1,100,000 after 184 days on the market. This home sold for $239 per sq ft.

Relevance: Relevant, but higher. Given that this home is new construction, much larger size vs it having 1 less bedroom and 1 less garage, I believe once all factors are considered it is relevant to your home, but it should sell for more. Having said that, I believe the reason this home sold for this price (as did yours) is that it was initially overpriced and became stale.

Your details: Living area 4006 sq ft | 4/5 beds | 3.5 baths | Lot size 0.48 acres | Built 2016 | 3 car garage

This colonial style home was also a new construction built in 2016.  It is of similar size as your home with 3,995 sq ft of above ground approx living area not including its partially finished lower level. Your home has 4,006 sq ft of living area including the basement based on the prior listing info.  This home has the same number of bedrooms as your home, both having 4 bedrooms. It has less bathrooms than your home, both having 2 full and 1 half bathrooms. It sits on a similar size 0.46 acre lot whereas your home sits on a 0.48 acre lot.
The main living area has an open floor plan with hardwood floors. The living room has a gas fireplace, a beamed ceiling, custom built ins, picture windows, and exterior access to the long deck. The dining area has exterior access to the deck through sliding glass doors. The kitchen has high end stainless steel appliances, a quartz breakfast bar island, quartz countertops, ceramic tile backsplash, lots of white cabinets,wine chiller, hardwood floors, and an office nook. This level also includes a sunroom with glass window walls. The master suite and the rest of the family bedrooms are on the upper level. The master bedroom has a walk in closet, hardwood floors, access to its own stunning deck accessed via double french doors, and an attached bathroom. The master bathroom has double sink vanity with granite countertops and white cabinets, a shower stall with frameless glass door, and a jacuzzi. The family bedrooms have hardwood floors and share a family bathroom which has double sink vanity and granite countertop.
This home has an attached 2 car garage, and has central heating and central air cooling. It was initially listed for $1,299,000 but dropped its price several times to $1,249,000, $1,199,000, and finally to $1,149,000 before it went under agreement and was sold for $1,100,000 after 162 days on the market. This home sold for $275 per sq ft.

Relevance: Relevant, but less.  Given the similar size to your home, similar build date, 1 less garage, 1 less bathroom I believe it is relevant to  your home but yours should sell for more.

Your details: Living area 4006 sq ft | 4/5 beds | 3.5 baths | Lot size 0.48 acres | Built 2016 | 3 car garage

This colonial style home was new construction built in 2016.  It is larger than your home with 4,384 sq ft of above ground approx living area. Your home has 4,006 sq ft of living area including the basement based on the prior listing info.  This home has the same number of bedrooms as your home, both having 4 bedrooms. It has more bathrooms than your home, having 4 full bathrooms. It also sits on a larger 0.59 acre lot whereas your home sits on a 0.48 acre lot.

The home has lovely curb appeal with a wrap around farmers porch, and also a side entry porch. Upon entry through the farmer’s porch, the living room has a coffered ceiling, and hardwood floors. The formal dining room also has coffered ceiling, wainscoting, custom built ins in the butlers pantry which also has a built in wine chiller, and hardwood floors. The family room is accessible through french door and has a fireplace, and hardwood floors. The kitchen has a tiered breakfast bar island, granite countertops, stainless steel appliances, white shaker style cabinetry to the ceiling, a walk in pantry, hardwood floors, and an exterior access to the deck by the informal dining area. This level also includes a mudroom and the adjacent main level bathroom. The master suite and the rest of the family bedrooms are on the second floor. The master bedroom has a fireplace, a cathedral ceiling, a walk in closet, hardwood floors, and an attached bathroom. One of the family bedrooms on this level also has an attached bathroom. The 3rd level is a huge bonus room with wall to wall carpets. There is a large patio with a built in firepit, and a huge deck in the backyard.

This home has an attached 3 car garage and 6 car off street parking, and has forced air heating and central air cooling. It was listed for $1,250,000 but was sold at a lower price of $1,157,000 after 151 days on the market. This home sold for $264 per sq ft.

Relevance: Relevant, but higher.  Given that this home is larger than your home with all above ground living area, 4 full bathrooms, wrap around farmers porch, and extensive landscaping in both front and rear yards I believe it is relevant to your home but it will sell for more.

Your details: Living area 4006 sq ft | 4/5 beds | 3.5 baths | Lot size 0.48 acres | Built 2016 | 3 car garage

This colonial style home is new construction built in 2017.  It is of similar size as your home with 4,000 sq ft of all above ground approx living area not including its partially finished lower level. Your home has 4,006 sq ft of living area including the basement based on the prior listing info.  This home has the same number of bedrooms as your home, both having 4 bedrooms. It also has the same number of bathrooms as your home, both having 3 full and 1 half bathrooms. It sits on a larger size 1.32 acre lot abutting town conservation areas whereas your home sits on a 0.48 acre lot.

The home has lovely curb appeal with a columned front porch. Upon entry to the open entry hall the main level has an open floor plan with hardwood floors, and has crown molding and wainscoting flowing around the entire main level. The living room and the formal dining room is defined by a half height wall with columns. The kitchen has a huge 2-tier breakfast island, granite countertops, ceramic tile backsplash, high end Thermador stainless steel appliances, lots of white cabinetry with glass panels on some cabinets overhead, a walk-in pantry, and has an exterior access to the covered large patio by the informal dining area and access to the mudroom leading to the attached 2 car garage. The mudroom is huge with cubbies, tall wainscoting, ceramic tile floors and access to the garage. The family room is open plan to the kitchen and has a fireplace with white mantel, built in window seats and windows on either sides. The home office is accessible from the entry hall through french doors and has crown molding, wainscoting, and hardwood floors, and is adjacent to the man level half bathroom with beadboard walls.  The main level has a more traditional layout than your home which does appeal to buyers.

The master suite and the rest of the family bedrooms are on the second floor. The master bedroom has a fireplace with white mantel and built in seats on either sides, a vaulted ceiling, 2 walk in his/hers closets, triple windows, cherry floors, and an attached bathroom. The master bathroom has double sink vanity with marble countertops and white cabinets, marble floor, a huge shower stall with marble walls with frameless glass door, a separately enclosed toilet, and a jacuzzi.  One of the family bedrooms on this level also has an attached bathroom with marble counter and hardwood floors. The rest of the family bedrooms have hardwood floors and share a family bathroom which has double sink vanity and marble countertop.  The laundry is stunning and huge. It has glass tile backsplash, marble counter with sink, lots of cabinetry and ceramic tile floor.

This home is located in the Fox Hill neighborhood. It has an attached 2 car garage and paved 10 car off street parking, and has forced air heating and central air cooling. It was listed for $1,275,000  but was sold at a lower price of $1,240,000. This home sold for $310 per sq ft.

Relevance: Higher.  Given its larger above ground living area, superior location, superior condition, traditional layout, larger lot size abutting conservation land I believe it will sell for more than your home.

Return to Top

Pricing Recommendation

My analysis of the relevant homes outlined above suggests a final market value for your home of $1,075,000-$1,125,000.  This puts your price per sq ft from between $268 - $281.  4/20/2018 - I would downgrade the estimate by $25K given the two additional homes that have been added of Carol and Hilltop. I believe the final market value of your home will be between $1,050,000 - $1,100,000.  Given the price per sq ft of the homes above we have an average of $259 per sq ft and with the price range above we are already over the average price per sq ft of the relevant homes.  I have not included 190 Mill St in this average as it is on 1.3 acres and abuts conservation land so the average price per sq ft for this home is not as relevant as yours. Only Lexington St (and Mill St which we are discounting) sold for a higher price per sq ft than your home when you bought it.

Pricing of your home depends on your time frame for sale. I would recommend pricing realistically. When homes are overpriced they end up sitting on the market and ultimately selling for less than market value, whereas homes priced realistically can often sell for well over market value. You can see many examples of this above where I believe the homes could have sold at a higher price but they became stale sitting on the market for as long as they did.  The challenge with overpricing is that the buyers are very educated – they go week after week to see homes in their price range so they KNOW what the prices are and what ‘feels’ right.  

I have to stress that these are recommendations. We would bring your home on the market at whatever price you deem to be appropriate.  

When determining the right price - it all depends on your motivation and your risk tolerance level. We know that homes that are priced at the 'strike price' will sell quicker and may generate more than one offer.  I’m an excellent negotiator and know how to push a price up if we have the market activity. I also know that some sellers want to put their home on for a higher price than I might recommend, which I’m willing to do, so long as it is understood that putting the home on for more than the majority of buyers perceive its value, could mean that your home will have a much longer market time and sell for less than it should have had it been priced properly out of the gate.

I DO NOT DETERMINE THE PRICE - the market dictates the value - what a buyer is willing to pay. My job is to make sure that you have the best market exposure and that your home is positioned well in the market.   I do not believe in projecting more money than I think your home will sell for just to get your business.

My team and I know how to stage and market your home, and I understand its value, but I can only sell it for what the market or a buyer will pay. I strongly believe that a home should be priced compared to the current competition, not just on what has sold in the last six months.  At the end of the day, you will be competing for the buyers looking for a home like yours and in the same price range. You can do far more 'damage' to the resultant price we get for your home if we overprice. The prospective serious buyers will see your home within the first weekend of your home coming on the market, and they will have seen everything else in this price range.  In other words, the serious buyer knows what is priced well.  If they don't see value in your home at its listing price and are not motivated to make an offer, then they will move on and keep looking.  In times of increasing prices, it is often hard to predict what a home will sell for, but be assured that even if we price your home lower than what market value is currently, market dynamics will bring the price of the home up to where it should be.  Prospective buyers should walk in thinking the price 'feels right' and are motivated to make an offer in the short term, rather than letting several months’ pass.

It is important to stress the value of marketing your home to capture the highest price.  In times of low inventory, we know your home will sell by doing the bare minimum to market it, BUT that is not going to get you the maximum price for your home.  Key to getting the maximum price for your home is to prepare a comprehensive marketing plan that incorporates all avenues available to us to expose your home to the maximum number of buyers out there looking.  Exposure, and feet in the door, is what will get you the highest price for your home. Basic ratios help explain this.  If 10% of the buyers who walk in your door fall in love with your home, then if you only have 10 buyers walking in, then potentially there is only 1 buyer - if you have 100 buyers walking in your door then using the same ratios, you will potentially have 10 buyers falling in love with your home.  10 buyers will push the price up versus only one buyer.

Given the price point you are at your home would be categorized as a RE/MAX Collections home, which is the Luxury home brand for RE/MAX. For the first Open House we would organize to have a pianist come in to play, and food for Open House guests. We would market it as our Signature Open House. The aim is to have an ‘event’ of your Open House and get serious buyers seeing the home with as many people as we can to stimulate activity and excitement for the home. In addition to this we do additional marketing for our Collections listings and can be reviewed below.

 New statistics state that over 100% of potential buyers search the web as their primary search vehicle.  Thankfully, your home will show fabulously in photos. With historically low interest rates likely to increase and inventory at a 7-year low, there are still homes that do not sell in this market.  I’m making my recommendations to ensure that you are one of the sellers who will have success in the first month of being on the market, but optimally the first weekend.

Return to Top

So, what is our Marketing Plan? 

Read More to find out all about the standard marketing we offer, at no additional charge to the standard fee.

Marketing to sell your home

Make your home stand out with MA Properties Online's Marketing Today's technology makes it...

Read More

 Because your home is a Luxury home, we offer additional marketing on top of the standard marketing seen above.

Marketing our Luxury homes

Additional marketing occurs when the home is a Collections listing.   RE/MAX Collecti...

Read More

 


Who We Are | MA Properties Online | RE/MAX Leading Edge

The MA Properties Online team takes a 'data driven approach' to real estate . ...

Read More

 


 

Testimonials | MA Properties Online | RE/MAX Leading Edge

Read Reviews about MA Properties Online | RE/MAX Leading Edge...

Read More


We look forward to working with you!   Please reach out if you have any questions at all about this market analysis or our plans to market your home! 

Return to Top