CHICAGO – Dec. 6, 2016 – A great kitchen can help sell a home, and real estate professionals are spotlighting it in their marketing.
Of all the homes listed for sale on realtor.com, 69 percent of the listing descriptions highlight the kitchen as a selling point. Forty-nine percent mentioned the bedrooms and 35 percent highlighted the garage, the next two most popular.
Further, homes that tout a “killer kitchen” or “luxury kitchen” in their descriptions sell 8 percent faster than a similar-sized home in the same ZIP code, realtor.com’s research finds.
So which kitchen features could possibly add the most value to a home? Realtor.com’s research team pinpointed the following:
- Custom cabinetry: 41% (the price premium: the difference between homes with the feature and homes without in the same ZIP code)
- Kitchen island: 30%
- Creative lighting: 21%
- Granite counters: 18%
- Large pantry: 14%
- Stainless-steel appliances: 12%
- Tile backsplash: 7%
- Breakfast bar: 6%
The research team also found growing demand for the “chef’s kitchen.” About 4.7 percent of homes on the market describe the kitchen as a “chef’s kitchen” or “gourmet kitchen,” which is up from 3.3 percent three years ago. Homes with such labels have a median list price of $589,900.
Some of the most common features associated with a chef’s kitchen: Oversized fridge, dual commercial-quality ovens, six-burner stovetop and a butler’s pantry. Other popular features include a wet bar and wine fridge.
Source: “Secrets Inside the Pantry: How the Kitchen Became Real Estate’s Most Valuable Room,” realtor.com® (Nov. 21, 2016)
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