Edina Realty Adds “Walk Score” To Online Property Listings
A “Walk Score,” which rates a home on a scale of zero to 100 depending on the walkability of the home’s neighborhood, is now attached to every online property listing in Minnesota, Wisconsin, and Fargo, N.D., on the Edina Realty website. This new feature will help homebuyers assess the walkability of the home in consideration, and it can also help home sellers market their home depending on how walkable their neighborhoods are.
“Walk Score is a great new feature for home buyers who value the health and environmental benefits of living in a walkable neighborhood,” said Bob Peltier, president and CEO of Edina Realty.
How exactly is a Walk Score calculated? Walk Score uses Google Maps to find stores, restaurants, bars, parks and other amenities within walking distance of any given address. Moreover, using patent-pending algorithm, Walk Score establishes neighborhood boundaries using data from Zillow, calculates the distances from the home to amenities in the neighborhood via Google Maps and weighs in population density information from the 2000 census.
Based on these criteria, the most desirable scores are between 70 and 100. A score of 50-70 is given to neighborhoods that are somewhat walkable but probably necessitate a car, bike or public transportation for getting around. A score of 25-50 means the community is car-dependent and a score below 25 means residents need to drive everywhere.
A high walk score can also translate into higher property values, according to a study by CEOs for Cities. This study found that homes for sale with above-average levels of walkability in the metropolitan areas studied commanded a premium of $4,000 to $34,000 over houses with just average levels of walkability.
— Emily Schuit
