30 Aug It Pays to Own in an A-Plus School District
New Homes – Murfreesboro, TN – Home Builders
Landmark Homes has built two communities in the highly rated school districts of Williamson County, TN and Murfreesboro, TN. Bent Creek in Nolensville, TN and Primm Springs in Murfreesboro are both zoned for top schools. These traditional family communities also feature walking trails and other great amenities.
It’s well known that homes in good school districts sell for a premium—and are a good investment for buyers with or without children. But just how much can you expect to top up that listing price or bid?
The economic research team at realtor.com took up the challenge and dived into the data. The team compared homes in school districts rated 9 or 10, the highest score, by GreatSchools.org with homes in nearby districts rated 6 or less.
“It’s common knowledge that buyers are often willing to pay a premium for a home in a strong school district,” says Javier Vivas, research analyst for realtor.com. “Our analysis quantifies just how good it is to be a seller in these areas.”
It turns out, homes in the higher-rated public school districts are, on average, 49% more expensive—at $400,000—than the national median of $269,000, and 77% more expensive than schools located in lower-ranked districts in their own area, with a median of $225,000.
While those numbers can seem scary to a potential homebuyer, the benefits of living in a higher-rated public school district are worth it.
Homes in higher-rated school districts sell an average of eight days faster than homes in below-average school districts, and four days faster than the national average.
People are more interested in homes in good school districts, too—they’re viewed 26% more, on average, than the average home on realtor.com, and 42% more than homes in areas with below-average schools.
Contact us today to learn how you can help design your very own custom built home.