Do Homes in Watson 70706 Have Higher Values Than Denham Springs 70726?
I’m working on a pre-listing appraisal off Dunn Road of a home on 1 acre and there’s some good comps both in 70726 and 70706. Is there a provable supportable location adjustment for 70726 vs 70706? The charts help answer the question with an upward or increasing trend line for 70706 vs a flat trend line for 70726.
From 1/1/2017 to 2/7/2018 1200sf to 2000sf DSF non-flooded sales stats:
70706: 157 Sales Median Sales Prices $174,900 and $118/sf
70726: 547 Sales Median Sales Prices $168,127 and $110/sf
So, it would appear at least a 4% adjustment could be warranted and supported. For whatever reason, be it school district or what, Watson 70706 does have overall higher home values.
