A walk score in real estate listings simply measures how walkable an address is. In other words, the score indicates how easy it is to accomplish common daily tasks by walking from your home address rather than driving a car or taking a bus. The score is calculated by using an advanced patented methodology by Walk Score.
A walk score is relevant to home sellers because a favorable walk score can make the home more desirable to prospective buyers. In fact, according to Redfin, one point in a walk score is worth $3,250 in home value. Walk scores are becoming increasingly advertised in real estate listings, and highlighting the ability to access local amenities on foot is a great way to make your home more appealing to prospective buyers.
Walkable Place to Live
The purpose of a walk score is to highlight how walkable an address is. There are various factors that go into a walk score. Most notably, the amount of nearby amenities and attractions is a key factor.
Walk Score also produces a transit score and bike score as well. While it can be beneficial to highlight these scores in a real estate listing, many prospective buyers are most interested in how walkable their address is. As mentioned, there is a fair amount of evidence to support that more walkable areas sell faster and for better value than otherwise comparable properties that are not as walkable.
Types of Walk Scores
Walk Score uses a point system, providing the maximum amount of points to amenities that are within a 5-mile walk and deducting points the farther away amenities are. Amenities outside of a 30-minute walk radius are not awarded any points. Each address lands on a scale between 0 and 100. The higher the score the more walkable the address is. The system breaks scores into five categories, which are:
- Walker’s Paradise
- Very Walkable
- Somewhat Walkable
- Car Dependent
Walker’s paradise indicates that daily errands do not require a car. Car dependent is broken into two categories, indicating either most errands require a vehicle or all errands require a vehicle. Now, let’s take a closer look at what each category indicates.
Walker’s paradise indicates the best possible rating for a walk score in real estate listings. To fall into this category, properties must fall between a score of 90-100. Very few properties fall in this category, which makes the ones that do incredibly valuable.
For homes that are considered a walker’s paradise according to its walk score, the home seller should most certainly advertise the huge advantage the property offers. A few nationwide examples of properties that might be considered a walker’s paradise include homes in the heart of large cities such as New York City and San Francisco.
Very walkable refers to a walk score that falls between 70-89. This indicates that the home is very close to many amenities and most errands can be completed on foot. These properties tend to sell for far more than homes that are considered car dependent.
Most listing agents find it beneficial to list a very walkable walk score in real estate listings. It is particularly attractive to prospective buyers who want the luxury of being in busier areas but would rather not battle the traffic each day.
Somewhat walkable indicates an address that allows for some errands to be accomplished on foot, but many require other methods of transportation. The score for a somewhat walkable home is between 50 and 69.
A property that has a score that is somewhat walkable is still more desirable than comparable properties that are in a more car-dependent location in many instances. Subsequently, it could be beneficial to highlight the nearby amenities along with the walk score of a somewhat walkable property in the real estate listing.
Car dependent is just that — a location that requires the resident to use a car. Walk Score separates the “car dependent” category into two categories. The more favorable one is for homes that have a walk score between 25 and 49. This indicates there are nearby amenities, but the resident will most likely not have a convenient location to most of the places they will regularly want to go.
The second category is for homes that have a walk score between 0 and 25. This indicates that there are very few, if any, amenities that are within ideal walking distance (30 minutes or less).
Work with the Katie Zarpas Group
The Katie Zarpas Group helps home sellers in the Virginia Beach and Hampton area. If you are interested in learning more about what a walk score in real estate listings means and how it can be beneficial, or if you need assistance with your real estate listing in general, then reach out to our team today for more information.