I just listed a really nice Mossman home in Bear Canyon Village and was talking about Mossman home values with someone at an open house. I’ve done a couple price comparisons over the years and thought I’d do another.
Mossman homes have a great reputation in Albuquerque as well built and nicely planned out. So the question is, do they sell at higher prices than other homes of similar size in the same area. Mossman-Gladden (his son in law was part of the company) built homes all over New Mexico, but the highest concentration is in the Northeast Heights north of Menaul and south of San Antonio/Harper Drive.
Here’s the comparison chart:
Mossman homes represent about 40% of sales in the area during 12 month period that ended on February 29, 2016. Over the year, they averaged about 8% more in both listing and selling price. Here’s the kicker though. Mossman homes were also a hair over 7% larger, on average, than non-Mossman homes. That translates to a 1.78% premium per square foot, with Mossmans averaging $114 and non-Mossmans averaging $112. It might be hard to argue there is a statistical difference in price, particularly with that large difference in quantity.
Interestingly, Mossman homes that were actively for sale at this writing in mid-March were much closer in size at 1,877 square feet on average versus the non-Mossman 1,833 square feet, but 8.59% more expensive per square foot at $128 versus $118. That suggests Mossman owners and their brokers certainly believe they are more valuable.
In the past, I’ve found stronger differences in price per square foot for Mossman sales. Our current market is very strong. Home inventory is down and buyer activity is strong. That may have an equalizing effect that weaker markets don’t see.
– Joe LaMastra, Coldwell Banker Legacy, March 15, 2016