A Small Room with a Big Value

Whatever term you use – bathroom, lavatory, restroom or loo – the smallest room in your house can have a big impact on how easily it sells. Just ask residents of the 630,000 occupied households that The Washington Post reported last year lacked “full indoor bathroom facilities” That means they lack a toilet, shower or tub, or running water. It was only 65 years ago that one quarter of U.S. homes were without flush toilets.

While the physical and psychological relief provided by the “water closet” is indisputable, the dollar value has been harder to get a handle on.

Until now.

RealtyTrac® recently compared average sales prices of homes according to the number of bathrooms and found that between 2001 and 2014 a two-bathroom home increased in value 43 percent, while a six-bathroom home increased over 90 percent. In the middle range, a four-bath home was about 47 percent.

Admittedly, more bathrooms means more square footage, and it is therefore a sign that appreciation skews towards the moneyed. Census Bureau stats showed after a brief shrink during the economic downturn, the average size of new homes is now up over 2,300 square feet, and the number of bathrooms at 2.56. Where once 40 percent of American homes had a bath-and-a-half or less, today only five percent do.

Here are the dollar figures on average home sales from 2001 to 2014, according to the number of bathrooms in the house.

Survey  Average sales price by number of bathrooms 
Year 2 3 4 5 6
2001  $  163,007  $  241,454  $  327,181  $  466,367  $     530,433
2002  $  187,509  $  273,435  $  367,487  $  530,739  $     595,477
2003  $  210,885  $  306,653  $  406,696  $  581,600  $     649,291
2004  $  234,667  $  333,382  $  461,056  $  662,406  $     734,344
2005  $  263,714  $  364,392  $  515,514  $  705,379  $     802,011
2006  $  261,669  $  364,059  $  510,111  $  748,358  $     943,379
2007  $  238,503  $  337,524  $  481,441  $  729,802  $     901,851
2008  $  198,771  $  284,912  $  414,990  $  603,162  $     775,329
2009  $  184,869  $  268,889  $  402,876  $  599,806  $     823,121
2010  $  187,842  $  281,458  $  410,649  $  572,808  $     689,130
2011  $  176,974  $  261,656  $  389,620  $  579,299  $     767,637
2012  $  194,473  $  288,119  $  424,997  $  648,545  $     764,570
2013  $  218,475  $  320,909  $  478,932  $  701,343  $     824,905
2014  $  232,957  $  339,141  $  481,642  $  695,190  $  1,014,964

 

If you are a journalist and wish to get further information regarding this or any of our many other datasets, please contact our PR Department (pr@realtytrac.com).

To find out how to purchase the entire dataset or license other databases, please contact our Data Sales department at (DataSales@realtytrac.com).

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved