You May Have to Pay $40K Over Asking Price for a House in These Towns
One city is especially hot right now.
Updated Sep 5, 2023 12:27 PM
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Vallejo, California. It’s not just a sunny spot on the West Coast, it’s where the market is getting hot. According to a recent study by the relocation experts at Moving Feedback, Vallejo is leading the way as the metropolitan area in the U.S. where homes are most likely to sell above their listing. The average price hovers around $521,177, but lately buyers are throwing down nearly $40,000 extra to seal the deal. This insight comes from an analysis of historical Zillow data, revealing a trend of places where homes are earning premiums beyond expectations. Here are the top five cities where you might pay (or if you’re a seller, get) above asking:
- Vallejo, California (expect to pay $40,000 over asking)
- San Francisco (expect to pay $31,158 over asking)
- Rochester, New York (expect to pay $20,449 over asking)
- San Jose, California (expect to pay $13,175 over asking)
- Ithaca, New York (expect to pay $13,175 over asking)
As home buyers vie for properties and sellers look to gain the most ROI, there are a few key things that’ll boost a property’s value no matter where you live. For one, timing plays a significant role. Not only the time of year, but the exact day you list could give you a better competitive advantage. (Psst: Apparently the Thursday before Labor Day offers you the best chance to sell your home quickly and, more important, for more money.) Inside, paint choices carry a ton of weight—Zillow recently found that homes with dark gray kitchens could sell for $2,512 over asking.
For those with a penchant for outdoor living, installing a pool can help send prices soaring, particularly if you call Fort Myers, Florida; Baton Rouge, Louisiana, or Jackson, Mississippi, home. Last tip? Keep that garden looking picture perfect. A well-kept yard doesn’t just attract pretty birds and pollinators, it brings in buyers who are ready to drop some cash.