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Consultant: Big Bethel homes sell for less initially but appreciate at same rate as side streets
Summary
Abbott Realty presented a study finding that homes on Big Bethel Road historically sold for lower initial prices than comparable side-street homes but have appreciated at similar rates over time; council will share the report with the neighborhood association and may explore residential transition zoning if homeowners request it.
Terry Pilgrim of Abbott Realty told the council the firm compared sales on Big Bethel Road to similar homes on nearby side streets and found that, while homes on the busier corridor sold for less when first built, they "have appreciated at the same rate as the other homes." Pilgrim said the comparison corrected for house style, square footage, age and features.
Council members pressed Pilgrim on whether the data showed active depreciation; Pilgrim responded the evidence did not show values falling, only a long-standing price gap tied to initial buyer preferences for quieter streets. A council member asked staff to provide copies of the study to the Big Bethel homeowners association so residents have the same information. Another councilor raised residential transition zoning as an option to moderate future commercial conversions, and asked staff to consult homeowners before proposing zoning changes.
