Luxury Connect
Meet the Luxury Leaders | October 19-20 | Beverly Hills

Homes in neighborhoods where goods, services and fun things to do are located within walking distance can command a price premium of $4,000 to $34,000 over otherwise similar homes in less walkable areas, according to an analysis of recent home sales.The study, "Walking the Walk," was commissioned by CEOs for Cities, a group that promotes sustainable cities. The study focused on about 90,000 recent home sales in 15 markets, finding a positive correlation between home values and walkability in all but two -- Las Vegas and Bakersfield, Calif.Walkability was defined using an algorithm dubbed Walk Score that was developed by "civic software" developer Front Seat.The Walk Score algorithm calculates a property's proximity to restaurants, coffee shops, schools, parks, stores an...