Home features that boost the selling price and number of days on the market.
In a study done by Zillow, Home Features that Sell, 4.6 million home sales across the country were analyzed in 2017 and 2018 for sales price and number of days listed on Zillow. The analysis stated that the for-sale listings mentioning certain home features sold for more and were on the market less time than those homes that did not list these certain features.
What are these features you ask? Well having luxurious items such as a steam oven or shower, heated floors, or a wine cellar can boost your home sales price up to 34 percent more. The Director of Economic Research at Zillow, Skylar Olsen, notes that “If you have these features, flaunt them.”
These types of luxurious features that are mentioned in property listings are appealing to first-home buyers and sell for more than expected. This type of trend seems to reflect the type of lifestyle that a millennial homeowner or a young family are trying to live by or achieve, according to Zillow.
Another luxurious home feature that bumped up pricing on a home and was included on the listing was an outdoor kitchen. A home with this feature sold for 24.5 percent more than a listing of a home that did not. Outdoor dining goes well with this feature, a pergola. When mentioned in a listing, the home sold 11 days faster and for 7.2 percent more money. Other items that gave homes a boost in prices and less days on the market are waterfall countertops, open shelving, exposed brick, and subway tile.
Zillow does point out that they are not “saying you should build or add these things to your home just to help it sell. However, listings that mention these features do sell for more—sometimes a lot more.”