Zillow's paint color analysis finds charcoal
gray rooms can help a home sell for as much as $2,512 more
- Dark gray is associated with higher offer prices than white in
every room of the home studied.
- Homes with a charcoal gray kitchen can sell for an estimated
$2,512 more than similar homes, while
a dark gray living room can command offers of $1,755 more.
- A white kitchen can hurt a home's sale price by more than
$600.
SEATTLE, June 20,
2023 /PRNewswire/ -- Buyers are saying goodbye to
bland and bidding more on homes with dusky, dramatic walls. A new
Zillow® study finds recent and prospective home buyers would
offer more money for a home with interiors painted dark gray.
Charcoal walls are associated with higher offer prices than white
in every room studied: kitchen, living room, bathroom and bedroom.
Even the classic white kitchen has fallen out of favor with today's
buyers, who reported they would pay $612 less for a home that has one.
Homes with a deep graphite gray kitchen can sell for an
estimated $2,512 more than similar
homes, while a midtone pewter gray kitchen can command $2,553 more than expected. Dark gray in the
living room and bedroom outperformed pale neutrals, with the
potential to command offers of at least $1,755 more.
"Buyers have been exposed to dark gray spaces through home
improvement TV shows and their social media feeds, but they're
likely drawn to charcoal on a psychological level," said
Mehnaz Khan, a color psychology
specialist and interior designer in Albany, New York. "Gray is the color of
retreat. As we come out of the pandemic and return to our
hectic lives, buyers want home to be a refuge. They want to
withdraw and escape from the uncertainty of the outside world, and
rooms enveloped in dark gray can create that feeling of
security."
Not all grays turn to gold when it's time to sell. Midtone gray
can hurt a home's sale price when it's used on the front door.
Zillow's research finds recent and prospective buyers would offer
an estimated $3,365 less for a home
with a cement gray front door. Buyers prefer black front doors to
those painted gray, and would offer $300 more for a home with a mid tone rosy brown
front door.
Earth tones are associated with higher offer prices when used in
the bathroom. Bathrooms painted a trendy terra-cotta brown, a 2023
color of the year, could help a home sell for $1,624 more than similar homes.
While a home's ultimate sale price is determined by a myriad of
factors, this research shows that it pays to be strategic when
sprucing up a home for sale. Most sellers make two
improvements to their home before listing it, and interior
painting is the most common project they take on. By selecting the
right paint colors, sellers can appeal to more buyers this spring
and potentially boost their bottom line.
"Paint is a relatively affordable and easy change, yet it has an
outsized impact on a buyer's perception of the home," said
Amanda Pendleton, Zillow's home
trends expert. "People don't buy homes every day, so they're trying
to quickly process a lot of complex information in an area where
they don't have a lot of experience. That uncertainty is likely why
buyers rely on color as a powerful visual signal that a home is
modern and up-to-date, or tired and needs maintenance. That first
impression contributes to their overall feelings about a home and
ultimately, how much they're willing to pay for it."
This paint color analysis is based on a series of Zillow studies
of more than 4,700 recent and prospective home buyers across the
country. In each study, they were randomly assigned images of a
home with interior spaces and front doors painted in one of 11 or
10 colors, respectively. Each color received a score based on
buyers' perception of the home, likelihood of touring the home and
the price they would be willing to pay for the home.
About Zillow Group
Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate
to make it easier to unlock life's next chapter. As the most
visited real estate website in the United
States, Zillow® and its affiliates offer customers an
on-demand experience for selling, buying, renting or financing with
transparency and ease.
Zillow Group's affiliates, brands and subsidiaries include
Zillow®, Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing
Services™, Trulia®, Out East®, ShowingTime®, Bridge Interactive®,
dotloop®, StreetEasy® and HotPads®. Zillow Home Loans, LLC is an
Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org).
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SOURCE Zillow Group, Inc.