Parking in Seattle nets dollars for homeowners
Jan 15, 2014, 7:58 AM | Updated: Mar 4, 2016, 5:47 am
Parking is a hot commodity and it’s becoming a buzzword in many listing ads for downtown and in-city properties that attract suburbanites and empty-nesters who are used to having a car, said Dean Jones, principal and owner of Realogics Sotheby’s International Realty in Seattle.
“It makes sense for brokers to assure prospective buyers, ‘we still have room for your car,” said Jones.
Properties that reference parking tend to sell for more money, according to an analysis of listing ads by Zillow.
In Seattle, 41.3 percent of listings mentioned “parking.” Those homes received a 7.3 percent increase in sales price.
These are the top metros with the highest percentage of homes for sale that have “parking” listed in the description, according to the study:
1. Riverside, Calif.: 45.1 percent of listings mention parking
– Median list price when parking is mentioned: $251,000
– Median list price when parking isn’t mentioned: $237, 500
– Parking premium on price: 5.7 percent
2. Denver: 44.1 percent of listings mention parking
– Median list price when parking is mentioned: $277,000
– Median list price when parking isn’t mentioned: $264,900
– Parking premium on price: 4.6 percent
3. Seattle: 41.3 percent of listings mention parking
– Median list price when parking is mentioned: $322,000
– Median list price when parking isn’t mentioned: $300,000
– Parking premium on price: 7.3 percent
4. Dallas-Fort Worth: 36.5 percent of listings mention parking
– Median list price when parking is mentioned: $209,000
– Median list price when parking isn’t mentioned: $179,900
– Parking premium on price: 16.2 percent
5. Detroit: 35.5 percent of listings mention parking
– Median list price when parking is mentioned: $124,900
– Median list price when parking isn’t mentioned: $105,000
– Parking premium on price: 19 percent
