How will the new roads in Solterra effect my property values?

The full opening and connection of McIntyre street to Yale was completed over the summer and many of you are asking how the decreased traffic volume going through the neighborhood via West Wesley and South Indiana might impact property values of homes located on these roads.

It’s been my experience that typically homes that back to busy streets need to be discounted, sometimes 5 to 10%. The reason being that most people don’t like backing to a noisy, busy street with steady traffic and therefore more often than not it takes a compelling price in order to catch an offer from an interested buyer.

It’s my opinion that the connection of Yale and McIntyre will lead to a decrease in the volume of traffic on West Westly and Indiana streets because the neighborhoods outside of Solterra now have an alternate route to get to Alameda, without having to go through a busy neighborhood. Eventually this should help the owners of properties on these streets and result in fewer reductions in price due to heavy traffic patterns.  

Keep in mind that a lot of the values depend on general market conditions. We’ve been in a sellers’ market for some years now. As things shift and we have more inventory on the market, sellers will need to be more competitive in their pricing. Location frequently wins over a buyer.