August 9, 2021
Most kids are heading back to school in person this year, but many parents are still coveting the virtual classroom spaces they created at the start of the pandemic. Many real estate pros believe they’re still a selling point, too.
Real estate pros continue to market and stage such spaces to attract potential home buyers.
“The family’s priorities have changed. People want these learning centers,” Fredrik Eklund, a real estate professional with Douglas Elliman in New York, told The Wall Street Journal.
In May, about 1,178 home listings mentioned terms related to learning spaces, a 58% jump compared to a year ago, according to realtor.com®. Real estate listings for more than $1 million that mentioned a learning space had a median time on the market of 45 days—12 days shorter than homes that did not mention one.
Learning spaces can create boundaries for homework areas and for using electronics. Some clients are removing man caves and multiple offices to turn them into an area for a children’s workspace.
Jim St. André, a real estate professional with Compass in New York, told The Wall Street Journal that he is staging more areas with play and work areas dedicated to children on the lower levels of homes. “People now look at those spaces as being less recreational,” he said. “Buyers want a usefulness to some of these spaces that we are repurposing.” He is currently selling a $25 million Greek Revival townhome that has a kids’ floor with bedrooms, a lounge area with couch, and a learning space.
Source: “Home Classrooms Became a Necessity During COVID. Now They’re a Selling Point,” The Wall Street Journal (Aug. 4, 2021) [Log-in required.]