The weather has been scorching in so many areas across the country. I don’t know about you, but I’ve been thinking about water, lakes, and air conditioning quite a bit this week. Anyway, today I have some pool stats that I’m excited to share. I also want to show you the DIY “pool” I built this weekend. Haha.
SOME AREAS HAVE MORE POOLS THAN OTHERS
Real estate is about location. That’s what we always hear. And, it’s true. Homes in different locations and price points tend to have different amenities, and that includes pools. Keep in mind the presence of a pool could be about lot size also – not just the price range.
MORE POOLS AT HIGHER PRICES
Here’s a look at the percentage of homes sold with pools by price range in a few local counties. In short, the higher the price, the greater chance of having a pool. This likely has to do with the cost of building a pool, cost of maintaining a pool, and even larger parcels at higher ranges – not to mention buyers at higher price points expecting a pool more often.
NOTE: If you’re not local, does your market look similar?
BIG MARKET UPDATE ON THURSDAY
I’m doing a big market update in a couple of days. You’re invited. There is a live and webinar option. Register here. No pressure.
POOL SALES INCREASED DURING PANDEMIC
There was a bump in the number and percentage of home sales with pools during the pandemic. Part of this could be working from home and buyers wanting a perfect backyard paradise to quarantine in style so to speak. But at the time buyers were targeting larger homes at higher prices, and that’s a big deal for understanding this trend. Being that there are more pools at higher prices, a big part of the increase in pool sales during 2021 was a function of prices rather than buyers seeking pools. Yet, it’s not just prices because there is no mistaking buyers wanted pools more often too. It also seemed like everyone and their Mom installed a pool during the pandemic (besides me).
Here’s what I mean about a home size spike. Do you see that huge spike in the blue and red lines during 2021? That’s buyers purchasing larger homes. And larger homes tend to be more expensive, and more expensive homes tend to have more pools.
THE COWBOY POOL I BUILT THIS WEEKEND
I posted this online a few days ago, and let’s just say I’ve heard all the redneck jokes. And I know it looks like I’m preparing for a cult event involving sacrifice. Kidding aside, I made this from scrap wood in my garage because I had the itch to create, and it was going to reach 110 degrees this weekend. I don’t have a pool, so I wanted a DIY way to cool off, and I figured a tiki vibe would work. I do have a pump to change water as needed. Anyway, if this appraiser thing doesn’t work out, maybe I’ll start a dad bod cold plunge channel…
ADJUSTMENTS FOR POOLS
Last but not least, let’s remember there is no such thing as a one-size-fits-all adjustment for a built-in pool because the value of a pool is going to depend on quality, condition, and even age. But it’s also about location because some price ranges and areas simply expect a pool to be present. In contrast, pools hardly exist in some locations, so it’s less of a factor because buyers don’t expect a pool. Ultimately, let’s look to the comps for the answers. What are buyers willing to pay? The ideal is to find similar homes with and without pools to help us understand that.
Thanks for being here.
Questions: What stands out to you about the stats? Would you buy a house with a pool? Why or why not? I’d love to hear your take.