1042 ET - A new Zillow analysis reveals that buyers are ready to pay a 3.7% premium, or $13,194 more, for homes already remodeled. That's the highest sale price premium of all 359 listing keywords Zillow analyzed across more than 2 million homes listed for sale in 2024. Remodeled listings on Zillow's website see 26% more daily saves and 30% more shares with shopping partners. This suggests a higher demand and seriousness among buyers for these properties. Previously, "remodeled" only added a 0.8% premium, and fixer-uppers were more popular. Today, however, with rising renovation costs, fixer-uppers sell at a 7.3% discount, or $28,000 less on a typical home, but this saving might not cover renovation expenses, making remodeled homes more appealing for those not wanting to deal with additional costs post-purchase. (chris.wack@wsj.com)
(END) Dow Jones Newswires
February 19, 2025 10:42 ET (15:42 GMT)
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