2024 Real Estate Trends: Will They Impact Your Selling Strategy?

In 2024, emerging real estate trends could significantly influence your selling strategy. From market shifts and economic factors to evolving buyer preferences and technological advancements, understanding these trends will be crucial for sellers aiming to maximize success. Stay informed on how these changes might impact property values, demand, and sales processes to effectively adapt and thrive in the dynamic real estate landscape.

After a period of relative stagnation, the housing market in 2024 is expected to gain momentum, fueled by the optimism surrounding potentially lower interest rates. Whether you are looking to buy or sell in 2024, understanding both yearly and seasonal real estate trends can significantly enhance your success in the market. Here are eight key trends that realtors believe will shape the real estate landscape in 2024 and how they might impact your property dealings.

1. The Desire for Aerial Views

In a market flooded with homes due to fluctuating interest rates, properties must distinguish themselves to attract buyers. John Forberger, a licensed agent at Douglas Elliman, suggests using drone footage to capture both the interior and exterior of your property. This method provides potential buyers with a comprehensive understanding of lot size, room layout, ceiling height, and decor. Forberger notes that even small companies and college students can produce high-quality drone footage, making it an accessible option for sellers.

2. Increased Interest in Sustainable Properties

Sustainable homes with eco-friendly features are gaining attention, particularly as climate change concerns and rising fuel prices continue to affect daily life. Chelsea Werner, a real estate salesperson at Compass, emphasizes that energy-efficient homes not only appeal to environmentally conscious buyers but also offer significant financial savings and potential tax benefits. Features like solar panels and eco-heating systems can make properties more attractive and increase their resale value.

3. Closed Floor Plans

The trend towards broken-plan homes and cozier, closed-off rooms is expected to continue in 2024. Lisa Simonsen, a luxury real estate agent with Douglas Elliman, points out that open-plan layouts, particularly those with kitchens that open directly into living rooms, are becoming less desirable. Buyers are now favoring homes with distinct, separate spaces, which can offer more privacy and functionality.

4. More Unique Home Staging

Traditional home staging often involves neutral, impersonal decor to provide a blank canvas for buyers. However, there is a growing trend towards more unique and well-curated staging. Simonsen explains that high-end buyers now prefer staging that reflects the home's character, including designer furnishings, archival pieces, and real artwork. This approach can make a property stand out and appeal to discerning buyers.

5. Integrated Smart Home Technology

Smart home features are becoming essential for modern buyers. Liz Hogan, executive director of luxury estates at Compass Real Estate, notes that integrated security systems, speaker systems, and home automation are increasingly on buyers' wish lists. These technologies enhance everyday convenience and security, making properties more appealing. Sellers can benefit by incorporating smart home features, which can justify higher asking prices and attract tech-savvy buyers.

6. Homes with Wellness Spaces

Properties with wellness features such as home gyms, saunas, and plunge pools are becoming highly sought after. Simonsen describes these amenities as the new "status symbols" in real estate. Enhancing wellness spaces in your home, such as creating a spa-like bathroom, can significantly boost its appeal to health-conscious buyers.

7. More Emphasis on Digital Viewings

The convenience of virtual viewings, which gained popularity during the pandemic, will continue to evolve in 2024. Keith Sant, CEO of Kind House Buyers, highlights the role of virtual reality (VR) and augmented reality (AR) in transforming property tours. VR allows buyers to tour properties from their homes, saving time and effort. AR can provide detailed information about properties, such as room dimensions and potential renovations. Additionally, digital platforms for auctions and viewings will make the buying and selling process more efficient.

8. Increased Impact of Social Media on Buying Habits

Social media is becoming an influential tool in real estate marketing, especially among affluent buyers. According to Coldwell Banker Global Luxury’s The Trend Report, 73% of affluent consumers have been influenced by social media to purchase a particular home. Platforms like Instagram, YouTube, and TikTok are particularly popular. Utilizing social media to showcase your property through videos and ads can help you reach a wider audience and expedite the selling process.

Conclusion

Understanding and leveraging these real estate trends can give you a significant advantage in the 2024 housing market. Whether through unique staging, integrating smart home technology, or utilizing social media, these strategies can help your property stand out and attract potential buyers. As the market picks up pace, staying informed about these trends will be crucial for anyone looking to buy or sell a home. By adapting to these changes, you can ensure a smoother and more successful real estate transaction.

For questions or comments write to writers@bostonbrandmedia.com

Source: homesandgardens‍