Greetings, Real Estate Fans (We love real estate, too!)!
See the infographic below, published by Florida Association of Realtors. We are seeing many of these trends in our transactions – and have been for the past 6 months. And – below are some of the top trends our team is seeing in Tampa Bay. With our marketing-savvy team, we have hit many home runs by focusing on matching the best features of our clients’ homes to the current trends of Florida homebuyers.
Kitchell Group Top Trends
- Pools – We are seeing increased premiums being paid for pools, with a differential of $30,000-50,000 being paid for homes with pools vs. homes without pools, up from $15,000 – $25,000 (depending on the quality of the pool).
- Large Backyards – Preferably fully-fenced for personal privacy, pets and children.
- Home Offices – If you have a home office in your home – or a space to easily/inexpensively convert to a home office (like an underutilized living room), you have an advantage.
- Bonus Rooms – A place for kids (and adults!) to escape to for a movie, recreation or quiet time.
- Proximity to Nature/Outdoor Activities – Places to escape today’s stresses for exercise, downtime and to make memories with friends and family.
- Newer Roofs – Roof age dramatically impacts insurance premiums. Insurance has increased 25-30% in the past year for homes with roofs older than 10 years. We have worked around this for many seller clients with old roofs, but it’s getting tougher. Also, scheduling contractors has become a real chore. And costs have increased, as have completion times.
- Updated Kitchens – People are cooking at home so much more. And with limited contractor availability, increased material costs (and a stressed supply chain), upgrading kitchens is a daunting task right now.
The above list is everchanging, so feel free to reach out to us for the latest trends and ideas on how you can best market your home for the highest price. We’re not just setting records prices in this tight market. We’ve been doing it for many years now.
Until next time, be healthy, make great memories, laugh often and spread kindness.
– Stacy Kitchell, Managing Broker
Courtesy of the Florida Association of Realtors ®