Do love-themed street names equal real estate amore?
Sharestates looked at streets with names like Hart, Diamond and Valentine to see what effect romance has on sales.
There are many factors that play into how a listing fares in New York’s real estate game, but being that today is Valentine’s Day, does love — as in love-themed street names — lead to amore when it comes to selling your home?
Perhaps, according to new data from real estate marketplace Sharestates. The company looked at the ROI (return on investment), ARV (after-repair value), median sales prices and increase in demand based on the amount of real estate loans in the area for Valentine-y streets called everything from Hart Street and Diamond Street to Valentine Avenue in New York City, upstate New York and on Long Island.
Homes on Hart Street in Brooklyn had the largest equity ROI with 48.38 percent — as well as the highest median home value, which came in at just north of $1 million. Hart Street, however, had both the second lowest ARV (47.33 percent) and increase in demand between 2016 and 2017, though the latter saw an increase of more than 71 percent.
Hartland Avenue in Queens Village saw a 100 percent increase in demand and the second-highest ARV (64 percent). Homes there have a median value of $471,800.
Diamond Street in Brooklyn had just a 1.67 percent ROI, but the highest ARV at 67.25 percent. Demand increased 300 percent between 2016 and 2017, and the area had the second-highest median home values, at $990,700.
Valentine Avenue in the Bronx had an ARV of 52.67 percent and a 200 percent increase in demand, while Valentine Road in Newburgh, Orange County, had no increase in demand.
And because no Valentine’s Day would be complete without some flowers, Flower Road in Massapequa, Long Island, had a 29.50 percent ROI and 300 percent increase in demand.