Morning Minute: Better schools = Homebuyers willing to pay more

Homebuyers are willing to pay premium prices for homes in top-ranked school districts compared to nearby homes with identical features but in less sought after districts, according to a study by the online real estate brokerage Redfin. Read the full report for details on the results and methodology.

Among the highlights:

When accounting for size, on average, people pay $50 more per square foot for homes in top-ranked school zones compared with homes served by average-ranked schools. This means that the price differences for similar homes located near each other but served by different schools can range from tens to hundreds of thousands of dollars. – Redfin

Read coverage of the Redfin report including:

Better schools equal pricier homes – HousingWire

Study: $50 More Per Square Foot for Homes Near Good Schools – REALTOR® Magazine

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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