The street name of a neighborhood can affect the asking price on a home, at least according to a new survey by Trulia. Trulia analyzed the median asking price per square foot among various types of address suffixes, like “Lane” and “Park.” Street addresses with the words “Boulevard,” “Place,” and “Road” were found to have higher average asking prices than homes with addresses ending in “Avenue,” “Drive,” or “Street,” according to the Trulia study.

For example, homes that were located on streets with the word “Boulevard” in the address sold on average about $117 per square foot compared to properties located on addresses with “Lane,” which would sell on average for $101 per square feet, or “Street,” which sold for about $86 per square foot. Homes that had “Boulevard” in the address had the highest asking prices of all the street-names Trulia studied.

But slow down…we’ve established again and again that price per square foot is not a reliable way to estimate value. The number of variables are significant and reliance on that alone is not advisable. We do agree that public percetion is important, would you want to live on Stab Street or Bleed Out Avenue?  Residents of Oak Hill might not find the former community name so appealing…Murder Heights. Talk about a major rebranding….Read about it

Hank Miller, SRA
Associate Broker & Certified Appraiser
Atlanta Communities Real Estate
678-428-8276 direct
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www.hmtatlanta.com