SANTA CLARA, Calif., June 22, 2018 /PRNewswire/ — With summer heating up, a new analysis from realtor.com®, The Home of Home Search?, shows homes with amenities geared toward summer activities have major appeal for buyers. In fact, homes with summer features are often listed with at least 10 percent higher prices than similar homes in the same state.
In rank order, the summer features correlated with highest price per square foot boost when compared to similar homes without it include: outdoor showers with a 97 percent price per square foot premium, barbecues with a 26 percent premium, entertainers pool or spa with a 26 percent boost, fire pits or outdoor fireplaces with a 25 percent jump, and zoned sprinklers that offer a 21 percent lift.
“Buyers love special features that enable them to get the most out of the summer months, and are willing to pay more for a home that has them, according to our analysis,” said Javier Vivas, director of economic research for realtor.com®.
Realtor.com® looked for common summer-related terms in listings of single-family homes listed for $150,000+ that appeared on realtor.com® in May 2018.
Outdoor showers power prices
Outdoor showers are highly desirable when it comes to summer features. Mentions of them are associated with the largest listing-price premiums of any feature analyzed. This is probably, in part, because they typically indicate waterfront property or extra amenities.
Homes with outdoor showers tend to list for nearly double the asking price per square foot of other homes. In some states, the added value is even more pronounced: In New York, homes with an outdoor shower list for 256 percent more per square foot than other for-sale homes. Massachusetts has by far the largest proportion of active listings featuring outdoor showers, at 8.9 percent.
Barbecues, fireplaces and fire pits all heat up listing prices
The most popular summer-fun listing feature is a barbecue grill. Barbecues are mentioned in nearly 9.6 percent of U.S. listings, and are most popular in Arizona and California where they appear in 15.8 and 9.5 percent of listings, respectively.
Homes with barbecues are 26 percent more expensive than similar homes without them. Buyers in just about every state can expect to pay more for homes with this feature, with Utah homes mentioning barbecues listing for 58 percent more per square foot than the typical home in the state.
On average homes that offer fireplaces and fire pits are priced 25 percent higher than similar listed homes in their area. They’re most popular in Indiana where 7.2 percent of all listings mention them. Following closely behind are North Carolina, Idaho and California, each with proportions above 5 percent.
Entertainer’s pool or spa keeping partygoers cool in Florida, California, Arizona and Hawaii
Homes that offer pools with space for friends and family to hang out nearby – known as an “entertainer’s pool” — are listed 26 percent higher than similar homes without the feature. New York sees the largest gains in price per square foot, at 224 percent, effectively tripling the price of homes associated with this major backyard feature.
Entertainer pools are most popular in Florida, where they were mentioned in more than 3 percent of listings. California, Arizona, and Hawaii follow closely, with mentions in just over 2 percent of listings.
For the full report, with full top 10 lists by amenity please visit: https://www.realtor.com/research/top-price-boosting-summer-fun-home-features/
Realtor.com®, The Home of Home Search?, offers the most comprehensive source of for-sale MLS-listed properties, among competing national sites, and access to the information, tools and professional expertise to help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today is the trusted resource for home buyers, sellers and dreamers by making all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.