Why do some homes sell for a premium? If you’ve kept up with our blog (and why wouldn’t you??), you know there are tons of factors that go into determining the value of your home. One we haven’t talked about? Words.
Zillow’s analysis of a bunch of home sales across the country (4.6M for their 2019 report) reveals how listings with certain keywords tend to sell for more than expected. In 2018, listings mentioning “steam shower” and “professional appliance” earned sellers a 29% higher sale price than listings that didn’t include those terms.
How did that change this year?
Kitchen amenities were six of the top 10 listing features among homes that sold for more than expected in 2017 and 2018. And that doesn’t even include wine cellars, which are associated with kitchens and made the list as well.
Listings that mentioned a “steam oven” (a wall oven that can steam food) earned the highest sale premium of all the keywords analyzed, at 34.1% more than the expected sale price.
When it comes to speed of selling, listings that mentioned open shelving, a pergola or “mid-century” sold 10-11 days faster than the average.
In addition to features, past Zillow research has also found that certain keywords in listings (if accurate) can help increase selling price above expected value. If one of the following words accurately describes your home, you might want to consider adding it to your listing.
Keep in mind – buyers will actually be coming to look at your home, so the listing description isn’t a place for fibs. You’ll be found out in no time! Bottom line: A professional Realtor is the best place to start for a top-notch listing description, and to help walk you through the rest of the home-buying process.
Let’s grab coffee and chat today!