Unlocking the Value of Outdoor Spaces: New Research Reveals Surprising Trends

In the ever-evolving landscape of real estate trends, it's crucial for sellers to stay ahead of the game. Recent research from Zillow has unveiled some fascinating insights into how certain features can significantly impact a home's selling price and speed. According to the latest findings, outdoor amenities such as outdoor TVs, showers, and kitchens can increase a home's sale price by up to 3.1% more than expected.

Unlocking the Value of Outdoor Spaces: New Research Reveals Surprising Trends

Traditional favorites like quartz countertops and wine fridges are being replaced by soapstone counters and beverage centers, which are proving to be more attractive to buyers. Homes with these features are outperforming their counterparts, fetching higher-than-expected sale prices.

For those looking to sell quickly, targeting younger, first-time buyers may be key. Viral home features that appeal to this demographic can help a home sell up to six days faster than expected. This includes features like rounded corners, popular in contemporary design, and statement terrazzo tiles, which add a touch of elegance and uniqueness.

One of the most significant findings from the research is the impact of outdoor spaces on a home's sale price. Homes with well-equipped outdoor areas, including outdoor TVs and showers, command higher prices. In fact, homes with outdoor TVs alone can see a 3.1% increase in sale price, translating to an additional $10,749 on a typical U.S. home.

Additionally, certain trendy features can attract more buyers, leading to a quicker sale. Mentioning features like a plant ledge in a listing description can help a home sell more than five days faster than expected. Similarly, homes with a pizza oven or bluestone patio in their backyard can also fetch higher-than-expected prices.

However, it's important to note that not all features guarantee a higher sale price. For example, mentioning laminate or tile countertops in a listing description can actually hurt a home's value, lowering the sale price by at least 1%.

As we look towards the future, modern features are becoming increasingly desirable to buyers. Matte black finishes and white oak flooring are in high demand, with homes featuring these elements commanding higher sale prices. Soapstone countertops are also gaining popularity, outperforming quartz and contributing to a sale premium of 3% versus 1.7%.

While certain features can enhance a home's value, affordability remains a key factor for buyers. As mortgage rates continue to rise, buyers are prioritizing "need to have" features over "nice to have" ones. Sellers should keep these trends in mind when preparing their homes for sale, focusing on highlighting features that will appeal to today's buyers.

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