Buyers Want Space for Entertaining
December 6, 2013
Nearly 2 percent of homes up for sale on the U.S. housing market are described as "perfect for entertaining," marking a 15 percent increase over the past year, according to property brokerage ZipRealty.
Sellers want to make an emotional connection with buyers by focusing on lifestyle features, now that the market is showing more signs of life.
Los Angeles has the most listings with the phrase "perfect for entertaining" in ZipRealty's analysis. The top features for party homes, meanwhile, are outdoor spaces such as courtyards and decks.
"Entertaining used to mean formal, sit-down dinners, but now entertaining could be sitting by the pool or the fire pit," says Carol Bird, a real estate broker with Westside Estate Agency in Malibu, Calif.
Although party homes are listed for 30 percent more than other properties, homes with dedicated areas for entertaining are not necessarily huge.
Source: "The Popularity of the Party House," Wall Street Journal (12/06/13)
Updated: November 21, 2019