Homes in high-fire-risk locations typically sold for $550,500 in April compared to low-fire-prone homes that sold for $431,300.

Median Sale Price of High-Risk Homes Jumped +52% During Pandemic

The median sale price of a typical home located in a high-fire-prone suburban area sold for $550,500, an increase of +52% since the pandemic’s onslaught, according to Redfin.  Meanwhile, the median sale price of suburban low-fire-risk homes jumped +41% during the pandemic to $431,300.

These sale prices represent the biggest premium, $119,200 or +27.6%, since at least 2017.  Comparatively, homes in high-fire-risk suburban areas sold for $56,700 or +18.5% more than comparable homes in high-fire-risk areas two years earlier.

An important question for you.  Spring 2022 is here…have you completed your 2022 Real Estate Business and Lead Generation Plan? If not, no worries. We have done the hard work for you. Download your 2022 REAL ESTATE TREASURE MAP! Text HARRIS to 47372. It’s that simple and takes 3 seconds. Text HARRIS to 47372 and when you do we will instantly text you back with a link to download. BONUS: For a limited time when you text HARRIS to 47372 you will also receive a Coaching Call!

4 Msgs/Month. Reply STOP to cancel, HELP for help. Msg&data rates may apply. Terms & Privacy:

Why the Price Discrepancy?

Homes in high-fire-risk suburban areas tend to be larger (about 2,000 square feet) and located near expensive West Coast metros.  The size of a typical home in a low-fire-risk suburban area came in at approximately 1,706 square feet.

Sheharyar Bokhari, Redfin Senior Economist, said, “Suburban homes tend to be more expensive because they’re large, and demand for large homes skyrocketed during the pandemic as Americans sought respite from crowded city life.  Pandemic buyers also hunted for deals due to surging home prices, and while fire-prone homes aren’t cheaper on average, buyers may feel they’re getting more bang for their buck because they’re getting more space.”

Bokhari added, “And for some pandemic buyers, the fire-prone home they bought in suburbia was actually cheaper than their last home because they were relocating from somewhere like San Francisco or Seattle.”

Faster Sales of Homes in High-Risk Suburban Locations

In April 2022, 62.4% of homes in high-fire-risk suburban areas sold within two weeks.  55.1% of homes in low-fire-prone suburban areas sold within two weeks.

The typical high-risk home sold in just 16 days in April compared with 20 days for the typical low-risk home.

Another comparative data point to watch as the market shifts is one of price cuts.  In April, 21.9% of high-fire-risk suburban listings had price cuts compared with 18.8% of low-fire-risk listings.  Two pandemic hotspots for relocating buyers, Boise ID and Sacramento CA, also face substantial wildfire risk and were among the top five metros where sellers cut their asking prices in April.

URGENT! Exclusive Invite: Join Premier Coaching for FREE! You read that correctly, Premier Coaching for the first 30 days is 100%, no strings attached FREE. Here is what you get: DISC Personality Test, Seller and Buyer Scripts, Presentations, Lead Generation Systems, Market Shift Plan, Real Estate Treasure Map, Members Only Community Groups (and a ton more). The best part is you will have a DAILY Live Coaching Call with a Harris Certified Coach. Yep, you read that correctly….every weekday you will attend a semi-private coaching session with your coach. All of this is 100% FREE. Of course, you want to join Premier Coaching. There is Zero Risk and joining costs you nothing. This is the Real Estate Success system you need in this quickly changing market. Join Premier Coaching NOW.

Thanks to Redfin.

Claim Your FREE Real Estate Treasure Map!