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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.