The end of the fixer-upper: Remodeled homes sell for the highest premiums
Zillow's latest analysis reveals a significant shift in home buyer preferences, with remodeled homes commanding a 3.7% premium ($13,194 on a typical U.S. home) - the highest among 359 listing keywords analyzed in 2024. Remodeled listings receive 26% more daily saves and 30% more shares compared to non-remodeled properties.
In contrast, fixer-uppers are selling at their largest discount in three years, at 7.3% below similar homes. Properties needing work or TLC sell for approximately 8% less than expected, translating to over $28,000 on a typical U.S. home. This marks a significant change from pre-pandemic trends when fixer-upper listings were more likely to sell.
Currently, 28% of all Zillow listings are described as 'renovated,' following a pandemic-driven renovation boom. With nationwide home appreciation at 2.6% in 2024 and a forecast of 2.9% for 2025, sellers can no longer rely on rapid equity gains to offset renovation costs.
L'ultima analisi di Zillow rivela un cambiamento significativo nelle preferenze degli acquirenti di case, con le abitazioni ristrutturate che ottengono un premio del 3,7% (13.194 dollari su una casa tipica negli Stati Uniti) - il più alto tra le 359 parole chiave analizzate nel 2024. Le inserzioni ristrutturate ricevono il 26% in più di salvataggi giornalieri e il 30% in più di condivisioni rispetto alle proprietà non ristrutturate.
Al contrario, le case da ristrutturare vengono vendute con il loro maggior sconto in tre anni, a un prezzo inferiore del 7,3% rispetto a case simili. Le proprietà che necessitano di lavori o TLC vengono vendute a circa l'8% in meno rispetto alle aspettative, traducendosi in oltre 28.000 dollari su una casa tipica negli Stati Uniti. Questo segna un cambiamento significativo rispetto alle tendenze pre-pandemia, quando le inserzioni di case da ristrutturare avevano maggiori probabilità di essere vendute.
Attualmente, il 28% di tutte le inserzioni di Zillow è descritto come 'ristrutturato', in seguito a un boom di ristrutturazioni guidato dalla pandemia. Con l'apprezzamento nazionale delle case fissato al 2,6% nel 2024 e una previsione del 2,9% per il 2025, i venditori non possono più fare affidamento su guadagni rapidi di capitale per compensare i costi di ristrutturazione.
El último análisis de Zillow revela un cambio significativo en las preferencias de los compradores de viviendas, con las casas remodeladas que obtienen una prima del 3.7% (13,194 dólares en una casa típica de EE. UU.) - el más alto entre las 359 palabras clave analizadas en 2024. Las listas remodeladas reciben un 26% más de guardados diarios y un 30% más de compartidos en comparación con las propiedades no remodeladas.
En contraste, las casas para arreglar se están vendiendo con su mayor descuento en tres años, a un 7.3% por debajo de casas similares. Las propiedades que necesitan trabajo o TLC se venden aproximadamente un 8% menos de lo esperado, lo que se traduce en más de 28,000 dólares en una casa típica de EE. UU. Esto marca un cambio significativo con respecto a las tendencias de antes de la pandemia, cuando las listas de casas para arreglar eran más propensas a venderse.
Actualmente, el 28% de todas las listas de Zillow se describen como 'renovadas', tras un auge de renovaciones impulsado por la pandemia. Con la apreciación de viviendas a nivel nacional en un 2.6% en 2024 y una previsión del 2.9% para 2025, los vendedores ya no pueden confiar en ganancias rápidas de capital para compensar los costos de renovación.
질로우의 최신 분석에 따르면, 주택 구매자 선호도에 상당한 변화가 나타났으며, 리모델링된 주택은 3.7%의 프리미엄(미국의 전형적인 주택에서 13,194달러)을 차지하고 있습니다 - 이는 2024년에 분석된 359개의 목록 키워드 중 가장 높은 수치입니다. 리모델링된 목록은 비리모델링 주택과 비교하여 일일 저장이 26% 더 많고 공유가 30% 더 많습니다.
반면에, 수리해야 할 주택은 지난 3년간 가장 큰 할인폭인 7.3%로 판매되고 있으며, 이는 유사한 주택보다 낮은 가격입니다. 수리나 TLC가 필요한 주택은 예상보다 약 8% 낮은 가격에 판매되며, 이는 미국의 전형적인 주택에서 28,000달러 이상에 해당합니다. 이는 수리해야 할 주택 목록이 더 잘 팔리던 팬데믹 이전의 경향과는 큰 변화를 나타냅니다.
현재 질로우의 모든 목록 중 28%는 '개조된' 것으로 설명되고 있으며, 이는 팬데믹에 의해 촉발된 개조 붐의 결과입니다. 2024년 전국 주택 가격 상승률이 2.6%에 달하고 2025년에는 2.9%로 예상됨에 따라, 판매자들은 더 이상 빠른 자본 이익에 의존하여 개조 비용을 상쇄할 수 없습니다.
La dernière analyse de Zillow révèle un changement significatif dans les préférences des acheteurs de maisons, avec des maisons rénovées affichant une prime de 3,7 % (13 194 dollars sur une maison typique aux États-Unis) - le plus élevé parmi les 359 mots-clés analysés en 2024. Les annonces rénovées reçoivent 26 % de sauvegardes quotidiennes en plus et 30 % de partages supplémentaires par rapport aux propriétés non rénovées.
En revanche, les maisons à rénover se vendent avec leur plus grande remise depuis trois ans, à 7,3 % en dessous des maisons similaires. Les propriétés nécessitant des travaux ou TLC se vendent environ 8 % de moins que prévu, ce qui représente plus de 28 000 dollars sur une maison typique aux États-Unis. Cela marque un changement significatif par rapport aux tendances d'avant la pandémie, lorsque les annonces de maisons à rénover avaient plus de chances de se vendre.
Actuellement, 28 % de toutes les annonces Zillow sont décrites comme 'rénovées', suite à un boom de rénovations poussé par la pandémie. Avec une appréciation nationale des maisons de 2,6 % en 2024 et une prévision de 2,9 % pour 2025, les vendeurs ne peuvent plus compter sur des gains rapides en capital pour compenser les coûts de rénovation.
Zillows neueste Analyse zeigt einen signifikanten Wandel in den Vorlieben der Hauskäufer, wobei renovierte Häuser einen Aufpreis von 3,7% (13.194 Dollar bei einem typischen US-Haus) erzielen - der höchste unter den 359 analysierten Suchbegriffen im Jahr 2024. Renovierte Angebote erhalten täglich 26% mehr Speicherungen und 30% mehr Shares im Vergleich zu nicht renovierten Immobilien.
Im Gegensatz dazu werden Renovierungsobjekte mit dem größten Rabatt seit drei Jahren verkauft, mit 7,3% unter dem Preis ähnlicher Häuser. Immobilien, die Arbeit oder TLC benötigen, verkaufen sich etwa 8% unter den Erwartungen, was mehr als 28.000 Dollar bei einem typischen US-Haus entspricht. Dies markiert eine signifikante Veränderung im Vergleich zu den Trends vor der Pandemie, als Renovierungsobjekte eher verkauft wurden.
Derzeit werden 28% aller Zillow-Angebote als 'renoviert' beschrieben, nach einem pandemiebedingten Renovierungsboom. Bei einer landesweiten Wertsteigerung von 2,6% im Jahr 2024 und einer Prognose von 2,9% für 2025 können Verkäufer nicht mehr auf schnelle Eigenkapitalgewinne zählen, um die Renovierungskosten auszugleichen.
- Remodeled homes selling at 3.7% premium ($13,194 on typical U.S. home)
- Remodeled listings getting 26% more daily saves and 30% more shares
- 28% of all listings now described as 'renovated'
- Projected 2.9% home value growth in 2025
- Fixer-uppers selling at 7.3% discount, largest in three years
- Homes needing work selling at 8% discount ($28,000 on typical U.S. home)
- Home value appreciation slowed to 2.6% in 2024
- Renovation costs rising due to inflation and high interest rates
Insights
The dramatic shift in buyer preferences toward move-in ready homes signals a fundamental change in the real estate market dynamics. The 3.7% premium for remodeled homes, combined with the 7.3% discount for fixer-uppers, represents more than just changing tastes - it reflects a rational response to current economic conditions.
The market's evolution is particularly noteworthy when examining engagement metrics. The 26% increase in daily saves and 30% higher share rate for remodeled properties indicates a significant behavioral shift among serious buyers. This engagement pattern suggests a growing sophistication in how buyers evaluate the total cost of homeownership, factoring in both immediate and future expenses.
Two key market forces are driving this trend. First, the moderation in home value appreciation (just 2.6% in 2024) has reduced the cushion for renovation cost overruns that characterized the previous market cycle. Second, high interest rates have made financing renovations through home equity loans or cash-out refinancing less attractive, pushing buyers toward turnkey properties where costs can be bundled into a primary mortgage.
The surge in renovated inventory, now representing 28% of listings, suggests a market responding to these changing preferences. This increase in move-in ready homes could create interesting dynamics during the spring selling season, potentially pressuring prices of unrenovated properties while supporting premiums for updated homes.
For investors and market participants, this trend has several implications. The widening price gap between renovated and unrenovated properties creates opportunities for well-capitalized buyers who can handle immediate renovation costs, while potentially squeezing out first-time buyers from the fixer-upper market that traditionally served as their entry point. The shift also suggests a potential restructuring of the renovation industry, with a possible move toward pre-sale professional renovations rather than post-purchase DIY projects.
Zillow research finds fixer-uppers are selling for the largest discount in years as buyers seek out move-in-ready properties
- Buyers pay
3.7% more than expected for remodeled homes. - Remodeled homes get
26% more daily saves and30% more daily shares on Zillow than similar homes. - Fixer-uppers sell for
7.3% less than other similar homes, the largest discount in three years.
Remodeled listings on Zillow get
It might seem intuitive that remodeled homes would sell for more, but that hasn't always been the case. Last year's analysis of listing keywords found the term "remodeled" only contributed to a
"Fixer-uppers can be appealing to a first-time buyer trying to get their foot in the door of homeownership because they offer a lower initial price of entry," said Amanda Pendleton, Zillow's home trends expert. "However, buyers who are already stretching their budget to afford a home in today's market may not be willing or able to spend more on renovations or repairs. A remodeled home may come with a higher price tag, but a buyer would get to spread that additional cost over the course of a 30-year mortgage versus paying cash upfront to make similar upgrades themselves."
Once the bargain basement of the housing market, fixer-uppers are increasingly becoming an option reserved for cash-flush buyers who want to customize every inch of their space. Zillow research finds a "fixer-upper" sells for
America's love affair with the fixer-upper began in the mid-2010s. As home prices recovered from the Great Recession and began to rapidly increase, first-time millennial buyers sought out more affordable options, choosing homes that needed work rather than move-in-ready properties. Dramatic before-and-after renovation TV shows and the DIY movement took off, inspiring many others to take on their own fixer-upper. Skyrocketing home values meant that homeowners could afford a few mishaps or budget overruns and still see huge equity gains while their homes were appreciating so rapidly.
Home value appreciation has since come back down to earth. In 2024, homes nationwide appreciated
Nearly
About Zillow Group
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All marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). © 2024 MFTB Holdco, Inc., a Zillow affiliate.
1 According to a previous analysis of homes listed for sale on Zillow between June 2023 and May 2024. For more information on methodology, please contact press@zillow.com.
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SOURCE Zillow Group, Inc.
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