
I received this question by e-mail a few days ago, and I had never really considered this before. Are buyers less excited about well/cistern/septic, or are buyers indifferent? This analysis won't conclusively answer that question, but it is an attempt to look at what statistical data suggests....
In 2008, there have been 382 single-family, non-Massanutten home sales in Rockingham County. Of those, 244 of the home sales were on both public water and public sewer, and 130 did not have public water or public sewer.
The properties
with public water and sewer, on average, took
177 days to sell.
The properties
without public water or sewer, on average, took
155 days to sell.
This was a bit of a surprise to me --- I had suspected that homes with public water and sewer would sell more quickly. Let's take a look at a few prior years to see if this trend has been persistent over time...
In
2007, homes
with public water and sewer, on average, took
169 days to sell.
In
2007, homes
without public water and sewer, on average, took
133 days to sell.
Again --- homes without public water and sewer sell more quickly!
In
2006, homes
with public water and sewer, on average, took
131 days to sell.
In
2006, homes
without public water and sewer, on average, took
111 days to sell.
So --- can anyone think of any possible
confounding variables?