When Prices of Homes with Pools Take a Dip

A study led by Brigham Young University assistant professor of economics Jaren Pope shows that buyers will pay more for a home with a swimming pool in August, with these residences selling for an additional 0.22 percentage points on average during the summer months. That translates into an extra $4,000 on a $1 million property.

However, homes with swimming pools sell for 0.15 percentage points less than the base line when they go into contract in January.

The study involved over 4 million transactions in 27 states between 1998 and 2008, focusing on homes sold at least twice during the study period.

Pope says early spring is the best time to list a home for sale, although it depends on how hot or cold the local market is. Sellers whose homes are on the market in the winter should keep their pools clean and use Christmas lights and heaters to make the space attractive despite the temperature.

 





Source: Wall Street Journal (03/15/13) P. M12; Tanaka, Sanette

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