Top 5 Home Buying Trends for 2021
Home buying trends are constantly changing in the real estate market. As such, it's vital that your luxury real estate agent at the Lake of the Ozarks stays up to date on the latest trends projected for the coming years. At Luxury Lake Home, I continue to stay on top of the latest market trends to ensure that I can represent your transaction to the fullest. In today's blog, I'm giving you the top 5 home buying trends projected for 2021.
Also known as "zoom rooms," in today's day and age, have become a large desire for nearly all homes, luxury, and non-luxury. In the last year, the need arose to have dedicated office spaces to allow for further telecommunications among businesses, employees, and their clients. That trend doesn't seem to be showing any signs of slowing as we head into the new year. The number of listings mentioning "home office" or "zoom room" increased by 48.5% as of November 2020.
Since we were staying home a lot more last year and travel options were limited, people had to come up with their own ways to "staycation." Many opted to upgrade their home, adding vacation or resort-style amenities to allow them to "vacation," without ever leaving their home. Some of the top keywords from Zillow are showing terms such as "pool," "waterfront," and "dock" were all on the rise. Amenities such as home spas and theatres were also being highlighted on listings and capture some extra sales dollars.
2020 had many people experimenting in their kitchens. Starting new hobbies or getting back into older ones that they may have lost time for over the years. As such, fully outfitted, chef-quality kitchens are becoming more in demand. Homebuyers are still referencing the kitchen as the "heart of the home. Zillow reported that roughly 41% of people value a well-equipped kitchen more than the prior year.
Sticking with the trend of turning your once vacation home into space where you'll be spending more time and requiring more functionality, the demand for a backyard oasis is on the rise. Since people are staying home more often, they're looking for ways to safely get outside and enjoy nature. Over 40% of homebuyers are putting extra emphasis on a large outdoor space.
Smart homes have been innovating the way we live within our homes for a few years now and show no signs of slowing. In an era where minimizing the spread of germs has become the new norm, smart technology is saving the day. Features such as touchless appliances, self-cleaning toilets and bidets, and other smart options are helping keep us functional and safe. A Zillow analysis showed that listings mentioning "smart light" in their description sold on average seven days faster. While listings showcasing a "smart thermostat" sold six days faster.
I hope that you found valuable homebuying trend information during your read. As we head deeper into the new year, it will be interesting to see how the home buying trends shift. What will million-dollar listings at the Lake of the Ozarks be featuring next year? Of course, you can count on your premier luxury real estate company at the Lake of the Ozarks, Luxury Lake Homes to stay on top of all your real estate needs.