Buyers pay up to 3.7% more for homes that work hard, play hard

0
15

Sustainable, eco-friendly features can contribute to homes selling up to 10 days faster than expected

  • A broadband internet connection and other remote work-friendly features can help a home sell for up to 2.5% more than expected. 
  • Homes with retreat spaces, such as a “she shed” or meditation room, can sell for around 2% more.
  • EV chargers and drought-resistant landscaping can help a home sell as much as 10 days faster. 

, /PRNewswire/ — In a market where home values are hitting new record highs, multifunctional homes with features that accommodate both work and play are fetching even higher prices than the competition. Zillow®’s 2022 Home Features That Sell analysis finds listings mentioning remote work-friendly features and amenities that make it easier to unwind and entertain at home can sell for more than expected, while features associated with energy efficiency and sustainability can help a home sell faster. 


Zillow's top 10 features that sell homes for more than expected

“Home buyers are investing in features that reflect the changes in their lives,” said Amanda Pendleton, Zillow’s home trends expert. “While the world slowly exits the pandemic, this data provides some insight into the new normal. Our lives now revolve around where we live, as opposed to where we work. It’s a realignment with wide-ranging impacts, including these changing home preferences that put value on function over style.”       

Zillow looked at nearly 230 features and design terms mentioned in listing descriptions for 3.1 million home sales in 2020 and 2021. Sellers whose homes have these desired features would be wise to highlight them in their listing description if they’re looking to sell for top dollar. Buyers, meanwhile, can make faster, smarter decisions by using a new tool that helps weigh these amenities. Zillow’s new Homes to Compare tool gives shoppers a comprehensive chart that compares up to five homes side-by-side on more than 70 key listing details including interior features and architecture. 

Features that work hard

The pandemic-led shift to remote and hybrid work has put a premium on certain features that allow buyers to work from home. A strong internet connection has become essential as movers seek out relative affordability and more space farther away from city centers. High-speed broadband access, when mentioned in a listing description, is associated with a 2.5% sale premium. A Zoom room or home office space can add 1.6% to a home’s sale price. 

Features that add functionality to the kitchen can also help homes achieve higher sale prices. Steam ovens topped the list for a second consecutive year as the pandemic launched a new generation of home chefs. When mentioned in a listing description, this high-end kitchen appliance, which quickly cooks food with steam instead of oil, can contribute to a home selling for 3.7% more than expected. Buyers appear willing to pay more for other functional kitchen features that make cooking and cleanup faster and easier, such as new appliances (2.6%) and quartz countertops (2.3%).  

Features that play hard

Retreat spaces at home, once considered a luxury, are now wish-list items for buyers at all price points. Homes with a “she shed,” the female equivalent of a man cave, where women can relax and unwind, can command 2.2% more than expected, while homes with a meditation room could see a 1.7% price premium. 

Outdoor space with areas for lounging, dining and entertaining continues to be a priority for pandemic-era home buyers. Homes mentioning pizza ovens and outdoor kitchens can sell for 2.3% and 2.2% more, respectively.   

While vacation areas are increasingly popular, buyers nationwide appear willing to pay more for homes that feel like a getaway, even if they’re hundreds of miles from the beach. Nautical style was associated with a 2.4% price premium, while a saltwater pool can help a home sell for 2.1% more than expected. 

Sustainability for speedy sales

Eco-friendly features associated with energy efficiency contributed to homes selling faster than expected. Homes with an EV charging station can sell 10 days faster than similar homes, while homes with drought-resistant landscaping or turf can sell at least nine days faster. Homes boasting energy-efficient features such as double-pane windows, programmable thermostats and smart sprinkler systems can sell between five and seven days faster than expected. 

Homes with seismic retrofitting, which make them more resistant to earthquakes, can sell 19 days faster than expected. This feature is found predominantly in updated homes on the West Coast.  

Top 10 features that sell homes for more than expected 



Feature

Price premium

Steam oven

3.7%

Modern farmhouse

3.0%

New appliances

2.6%

Shiplap

2.6%

Broadband/broadband speed/Wi-Fi

2.5%

Nautical

2.4%

Seismic/seismic retrofit

2.4%

Metal roof

2.4%

Heated floor

2.4%

Dog/pet house

2.3%

Top 10 features that sell homes faster than expected



Feature

Number of days faster

Seismic/seismic retrofit

19.0

EV charging station

9.5

Drought-resistant landscaping

9.2

Turf landscaping

8.0

Popcorn ceiling (removed)

7.0

Midcentury

7.0

Double-pane windows

6.9

Zoom room/home office

6.0

Programmable thermostats

6.0

Boho

5.7

About Zillow Group

Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life’s next chapter. 

As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and nearly seamless end-to-end service. Zillow Home Loans™, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase. Zillow recently launched Zillow Homes, Inc., a licensed brokerage entity, to streamline Zillow Offers transactions.  

Zillow Group’s brands, affiliates and subsidiaries include Zillow®; Zillow Offers®; Zillow Premier Agent®; Zillow Home Loans™; Zillow Closing Services™; Zillow Homes, Inc.; Trulia®; Out East®; StreetEasy® and HotPads®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). 

SOURCE Zillow Group, Inc.

Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here