Living in Fireside comes with an amenity few other communities can match: a
wonderful network of private trails and bike paths connecting our neighborhoods
together. “Walkable” communities continue to be in-demand, as residents look
for fitness options that don’t involve the tedium of a treadmill.
While trails and paths have long been marketable features for home sales, there
is now evidence that property values are boosted by a home’s proximity to
walking, hiking, and biking corridors. According to headwaterseconomics.org,
nationwide research shows that homes near trails and paths often command a
price premium of 5-10%. The methodology used in this research involved
statistical models of thousands of comparable homes, with the only difference
being proximity to bike paths and walking trails. And while the results vary from
city to city, there is a clear indication that trails and paths have a positive effect on
- In Austin, Texas, a neighborhood along a popular trail saw premiums of 6 to
20 percent, depending on views and trail access.
- In suburban New Castle County, Delaware, homes within 150 feet of bike
paths commanded a four percent price premium.
- Along the Little Miami Scenic Trail in southwestern Ohio, increases in
property values can be measured by the foot! Home prices increased by
about $7 for every foot closer a home was to the trail.
Knowing the impact these amenities bring to a neighborhood, it’s easy to see why
Fireside at Norterra continues to be one of the most sought-after communities in Phoenix.
From a lifestyle standpoint, our community is very on-brand. Hardly a day goes by
when you don’t see someone walking a dog, riding a bike, or going for a run. And
if your home happens to be adjacent to a hiking trail, bike lane, or walking path,
you just might experience a lift in home value when it’s time to sell. Just be sure
that your listing features the nearby trails and paths that home buyers love!