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The old adage “Location, Location, Location” is a fundamental truth in real estate. Of course it would be, right? After all home’s location is fixed—it doesn’t change.
In this case, all of the properties analyzed are within Downingtown Borough, meaning their location is relatively the same. However, location alone doesn’t determine price. Condition is the key variable, and as the sales below illustrate, it can cause significant differences in price—even between nearly identical homes.
Two twin homes, just 0.1 miles apart, sold at noticeably different prices, from what I can tell due to condition.
Both homes offered similar layouts and locations, yet 218 William St. commanded $38,000 more simply because it required fewer immediate repairs.
Two identical twin homes on Grant Ave—just 210 feet apart—show the financial impact of condition on pricing.
Despite having the same layout, 523 Grant Ave sold for $124,000 more because it was fully renovated, offering buyers a turn-key home with updates.
This property sold twice in under a year, proving how improvements directly impact market value.
After undergoing renovations—including an added bedroom, half bathroom, and upgraded finishes—the property sold for $169,500 more in just seven months.
Every home in this analysis shares the same fundamental factor: location. However, it seems evident that prices vary based on condition. While location establishes the baseline for desirability, condition can significantly influence pricing.
Each home and situation is unique. If you're considering selling, reach out to one of our agents to discuss how, or if, your home could benefit from repairs and updates before listing.
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Disclaimer:
The information provided is not guaranteed, nor does the broker warrant the accuracy of the data. Results are not guaranteed, as market conditions, economic factors, interest rates, and inventory levels all play a role in the successful sale of a home. This blog post shall not be construed as a broker opinion of value or a comparative market analysis. Any statements regarding home values, pricing influences, or market trends are for informational, and entertainment, purposes only and should not be relied upon as financial, legal, or real estate advice. Buyers and sellers should consult with a licensed real estate professional for guidance specific to their situation.