LATEST NEWS AND INFORMATION BROUGHT TO YOU BY LAFAYETTE TITLE

 

BBQs, pools, fire pits and other features are often associated with double-digit price premiums

With summer heating up, Realtor.com® identified some of the hottest summer-related keywords currently being used in home listings to entice buyers and boost prices.

Whether it’s being able to enjoy a weekend barbecue, splash at a pool party or roast marshmallows in a backyard fire pit, Realtor.com® data shows that that homes with amenities geared toward summer activities appeal to buyers and often have significantly higher prices per square foot than similar homes that lack those features.

Frequently, those features are associated with double-digit home-price premiums when compared to other listings by square footage in each respective state.

Looking at single-family homes listed for $150,000+ on Realtor.com® in May 2018, they analyzed a collection of common summer-related terms, including Summer Fun, Barbecue, Outdoor Shower, Fire Pit, Pool, and Spa, among others.

Highlights:

  • Listings that reference “Summer fun” or “summer days” are most popular in the Northeast, and have the biggest price-premium in Michigan, at 36 percent.
  • Barbecuing is the most popular summer home feature, by a wide margin. In Arizona and California, 15.8 percent and 9.8 percent of all listings reference barbecue, and homes in Utah that reference barbecue cost 58 percent more than those that don’t.
  • Outdoor showers carry a bigger price-premium any other feature geared toward summer fun – probably because it means there is a pool or other body of water nearby. New Jersey Homes With "Outdoor Shower" in Listing Get 164% More Per Square Foot...

To read the full report, click here.

More Real Estate News