2017 treated the real estate market well within the Mohonasen Central School district. On the heels of a large increase in sales (44%) between 2015 and 2016, sales increased further by 4% in the year 2017. Furthermore, home prices rose 6.9% last year, a significant jump of over $10,000 in average sale price!
While the Mohonasen market is rising overall, homebuyers and sellers may be interested to know that not all home styles are equal. Not surprisingly, Cape Cod style homes represented 141 sales out of the 323 total sales within this market. Capes are popular in Rotterdam and promise a moderately low price per square foot at $102 / sq. ft. In terms of price per square foot, Cape Cods are bested only by Raised Ranches, Bungalows, and Two Story homes.
Home styles such as Condominiums, Split Ranches, and Ranches offer lower sale prices, but poor price per square foot, coming in at over $120 / sq. ft. Bungalows, on the other hand, promise low sale prices in addition to a great value at $85 / sq. ft. while Colonials are selling for a high price and a high price per square foot.
The above graphic depicts average total taxes (grey bars) alongside average price per square foot (black line). The numbers here confirm previous observations. Two Story, Bungalow, and Cape Cod style homes boast low average taxes in addition to their low price per square foot. Raised Ranches, while a good price value, seem to carry higher tax costs than other home styles. Split Level and Colonial homes carry both high space costs and high taxes, making them a less efficient purchase than other types of homes.
Homeowners looking to sell their Ranch, Split Ranch, Colonial, Condominium, and Split Level homes will be pleased to know that they can safely price their homes in the $114-$126 price per square foot range. Prices in the Mohonasen school district rose significantly in 2017, so homeowners may be able to sell their homes for higher prices than they expect.
On the other hand, homebuyers will likely experience greater competition in this market and may need to find ways to mitigate the impact of increasing prices. Homebuyers looking to make the most of their dollar should focus their search on Two Story, Bungalow, and Cape Cod homes.