What makes one home sell overnight and another languish on the market for weeks on end? A recent study identified a half-dozen attributes such as architectural style and amenities that caught the interest of homebuyers, and the results, while hardly scientific, open a window on current trends in real estate.
If you’re a homebuyer, or a seller, that’s useful information.
The study was conducted by Realtor.com, and homebuyer interest was measured by two metrics: the number of days a home stayed on the market and the number of page views it received on the company’s website. Here are the results:
SPANISH-STYLE HOMES SELL FASTEST: They made up only 1 percent of the listings on Realtor.com’s website, but Spanish-style homes sold quickly: a median of 47 days, or half the national average (93 days). It was followed by traditional-style homes (84 days), ranch-style (95 days), Craftsman (103 days), and Victorian (122 days).
ROOMS WITH A VIEW: URBAN SCENERY PREFERRED: Cityscapes or ocean views? You may be surprised to learn that homes with city views sold in a median of 83 days, compared with 90 days for golf course views, 95 days for lake views, 96 days for mountain views, and 98 days for ocean views.
STAINLESS STEEL AND GRANITE STILL POPULAR: What are the hottest amenities today? Homes with stainless-steel appliances sold in a median of 79 days, followed by homes with granite counters (82 days), open kitchens (83 days), finished basements (89 days), and fireplaces (94 days).
LOCATION, LOCATION, LOCATION: What public facilities attract buyers? It’s no surprise that good schools rank No. 1, with nearby homes selling in a median of 76 days. Other top attractions included a sports stadium (77 days), shopping centers (79 days), transportation (88 days), and hospitals (95 days).
‘DREAM BIG, BUY SMALL’: We often dream of living in a sprawling homes with many bedrooms and entertainment centers and multicar garages, but reality is a bit different. The fastest-selling home size was 1,500 to 2,000 square feet (a median of 86 days), followed by 2,000 to 2,500 square feet (90 days), 3,000 to 3,500 square feet (101 days), 5,000 to 5,500 square feet (127 days), and 100,000 square feet and higher (173 days).
LOWER PRICES EQUALS HIGHER SALES: What is the hottest price range? (Remember, this is a national average, not reflective of the Bay Area.) Homes priced from $200,000 to $250,000 sold in a median of 83 days. They were followed by those priced from $150,000 to $200,000 (86 days), from $250,000 to $300,000 (89 days), from $1 million to $2 million (118 days), and from $2 million to $5 million (133 days).
(Image: Flickr/Michael)