Key Market Differences
Price per Square Foot:
One of the most striking differences in the Leisure World housing market is the price per square foot.
• Vacant Homes: $362.28 per sq. ft.
• Owner-Occupied Homes: $370.30 per sq. ft.
• Vacant homes sell for approximately $8.02 less per square foot!
This pricing gap suggests that buyers perceive more value in owner-occupied homes—even when the properties themselves are similar in size or condition. Homes that have furniture, decor, and personal touches create a sense of warmth and livability, which can lead to higher offers from buyers.
💲 Graph: Price per Square Foot - Vacant vs. Owner-Occupied Homes
(Graph below shows the comparative price per square foot for vacant vs. occupied homes.)
Days on Market:
Another key difference between vacant and owner-occupied homes is how long they stay on the market.
• Vacant Homes: 36.5 days
• Owner-Occupied Homes: 33.2 days
• Vacant homes tend to stay on the market for 3.3 more days!
This may not seem like a huge gap, but in competitive real estate markets, even a few extra days can make a big difference. Homes that appear “lived-in” feel more inviting to buyers, helping them conceptualize how they might use the space.
⏳ Graph: Days on Market - Vacant vs. Owner-Occupied Homes
(Graph below shows how long homes stay on the market before selling.)
Average Sale Price:
Perhaps the most important statistic for sellers is the final sale price of the home.
• Vacant Homes: $333,055
• Owner-Occupied Homes: $338,796
• Owner-occupied homes tend to sell for more!
💰 Graph: Average Sale Price - Vacant vs. Owner-Occupied Homes
(Graph below highlights the difference in final sale prices.)
Home Size Comparison:
While both types of homes are comparable in size, there is a slight difference in average square footage.
• Vacant Homes: 921.58 sq. ft.
• Owner-Occupied Homes: 918.19 sq. ft.
Although owner-occupied homes are slightly smaller on average, they still command a higher price. This further supports the idea that the presence of furniture and staging plays a major role in buyer perception.
📏 Graph: Average Home Size - Vacant vs. Owner-Occupied Homes
(Graph below illustrates the average home size in square footage.)
Why Do Owner-Occupied Homes Sell for More?
It all comes down to perception!
1️⃣ Furniture Creates a Sense of Scale:
• Buyers often struggle to visualize furniture placement in an empty home. Rooms look smaller when vacant because there are no visual references for scale.
• A well-furnished living room can make a home feel more functional and spacious!
2️⃣ Emotional Connection:
• A vacant house feels like an empty shell, while a home with furniture and decor feels lived-in and inviting.
• Buyers tend to emotionally connect with a home when they can see how it’s used in everyday life.
3️⃣ Staging Boosts Appeal:
• Professional staging ( Judy Hughes Does A Great Job!) can lead to faster sales and higher prices because it helps buyers imagine themselves living in the space.
• Vacant homes may appear cold or neglected, making them less attractive to buyers.
4️⃣ Perceived Maintenance & Upkeep:
• Buyers often assume that a vacant home requires more repairs. They might worry about hidden maintenance issues, leading to lower offers.
• Owner-occupied homes appear well-maintained, signaling less risk for potential buyers.
Takeaways for Sellers:
✔ If selling a vacant home, consider staging it professionally to make it feel more inviting. Mark and Judy Hughes Stage their Vacant Listings for Sellers.
✔ Owners still living in their homes should keep them well-maintained and show-ready to maximize their sale price.
✔ Price strategy matters – vacant homes may need to be priced slightly lower or offer buyer incentives to compete effectively.
💡 Final Thought:
People don’t just buy a house—they buy a lifestyle.
A well-furnished, welcoming home sparks an emotional connection, helping buyers see themselves living there—and that translates into a faster sale at a higher price!
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This Week's Leisure World Real Estate 3.13.25
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