Single Level Homes Sell Faster and for 19% More, 2022 Report
Brought to the forefront of American living shortly after World War II, ranch-style homes grew in popularity for their laid-back, easy-living vibe with flowing, open floor plans and easy access to the outdoors.
Then came the 1980s. Ranch homes temporarily lost their appeal with homeowners during the building boom of this decade after the country had enjoyed economic growth. People had more money, and they wanted more. What came of this period were bigger homes with less-than-imaginative facades, fake chimneys, cathedral ceilings, and sometimes garish interiors.
As with any trend or fashion that runs its course and fades from popularity, it usually comes back around into favor with the masses. As the adage goes, “everything old is new again,” and this is definitely the case with the ranch-style home right now. This is good news if you own a ranch and decide to sell it, because this tried-and-true architectural style sells for more per sq. ft. than any other style of home we’re aware of!
Single Level Homes Sell for More Per Sq. Ft. in Portland, Oregon.
Every year we run the numbers using our local MLS, RMLS, to see how detached single level homes sold in comparison to detached multi-level homes in Portland, Oregon. We rate the speed in which the homes went pending (had an accepted offer) and calculate how much each property type sold for by sq. ft.
We used the criteria above for 2022 from Jan. 1st 2022 to April 1st 2022 to calculate our report. In that timeframe 615 single level homes sold. They sold for an average of $377 per sq. ft. and they sold in an average of 25 days. In contrast, 1,442 multi-level homes sold in that timeframe. They sold for an average of $309 per sq. ft. and took an average of 32 days to sell. In summary single level homes in 2022 sold for 19% more per sq. ft. and sold 22% faster.
|Single Level vs. Multi-level Homes||Faster Sales in Days||Sold for More per Sq. ft.|
Number One Reason Single Family Homes Sell For More: Accessibility
The number of Americans ages 65 and older will more than double over the next 40 years, reaching 80 million in 2040, according to Urban.org. The U.S. population is aging and accessible homes are an essential part of the process and believe it or not, Portland, Oregon is a popular location to retire in.
Number Two Reasons Single Level Homes Sell for More: They’re Hard to Come By
New construction homes typically focus on creating as much sq. ft. as possible on as small a lot as possible to maximize profits. Single level homes in contract take up a lot of the lot space and provide no extra room to add square footage. As U.S. cities get more densely populated, building up instead of out, single level homes become more rarified.
Supply and Demand—Ranch-Style (Single Level) Homes are Regaining Popularity Across the U.S.
Supply and demand operates on the assumption that the price of a product is determined by buyer demand and the product’s availability. Also, when a product trends and moves to the top of consumers’ lists, they’ll pay more for it.
According to a study conducted by Trulia, ranch-style homes are the top choice of homebuyers in over half of the 50 U.S. states, Oregon being one of them. Redfin agrees rating them #1 overall.
As we can see from the map below, Oregonians—any many others—love their ranch-style homes.
Why do Ranch-Style Homes Sell for More?
Ranch-Style Homes Have Less Interior Noise
Have you ever had people over or visited another household and experienced the sound of kids enjoying themselves in the playroom upstairs, right over your head, while you try to relax and converse? Other culprits that create indoor noise are flushing toilets and “waste water pipes.” All are distractions and create noise pollution within the four walls of your home.
Because living in a ranch-style home removes the literal living on top of each other, day-to-day life can be far more quiet and peaceful.
Ranch-Style Homes Allow You to Incorporate Nature Into Your Daily Life
Love having that slider off the dining area so you can step right out onto a patio or deck surrounded by a beautifully landscaped yard? With a ranch-style home, you can have this access from virtually any room in the house. Depending on the shape of the home and yard, the primary bedroom—or all the bedrooms, for that matter—can lead to an outdoor sanctuary. And in the case of a U- or L-shaped ranch, gardens and courtyards with water features can become a central focus, easily accessible from all parts of the home.
Ranch-Style Homes Have Low-Pitched or Lower Elevation Roofs
Thanks to their one-level construction, many ranch homes have low-pitched roofs. This means a far easier time when it comes to cleaning the roof or gutters, which translates to stronger potential for DIY projects—and saving money— as well as less chance of serious injury.
Most Ranch-Style Homes Have Attached Garages
The convenience of an attached garage is not lost on anyone who lives in the rainy Pacific Northwest. After an hour battling the crowds at the grocery story, who wants to make several soggy treks from the car to the house with their arms full of groceries? Or say you return from a tropical paradise vacation to pouring rain? Having a ranch-style home obliterates this unsavory part of returning home because you can step right inside to the kitchen, laundry room, or mud room to unload without coming into contact with a drop of rain.
Are There Disadvantages to Ranch-Style Homes?
We’d be remiss if we didn’t mention some problematic features of this iconic American home style. As you’ll see, though, there are ways to remedy these potential problems so you can still have the home of your dreams—all on one level.
When young kids are in the home, parents’ privacy can seem non-existent. However, there are plenty of more modern ranch style homes with a better separation of space—the primary suite is located at one end of the home with the kids’ bedrooms at the other.
Likewise, it can be difficult to keep private areas private when company comes over and it’s time to entertain. Finding ways to signal these areas is doable, though, by closing doors to rooms that are private or positioning screens as an indication that an area is off limits.
Ranch-Style Homes Can Cost More to Build
As we mentioned above, ranch-style homes can require more foundation and roofing materials, which drives up building costs. When it comes time to sell, though, that expense becomes a higher asking price, not a deal breaker for most who expressly want a ranch-style home.
Ranch-Style Homes Can Use More Energy
Heating and cooling a ranch-style home can cost more because it takes more effort from HVAC systems to pipe hot and cold air efficiently to all parts of the home. Also, hot water has to travel further, which can mean delayed showers and wash cycles, when doing laundry. These issues can be remedied by using eco-conscious and sustainable-minded materials, systems, and features when building or renovating.
Ranch-Style Homes Tend to Have Smaller Yards
Because, as we’ve said, ranch homes take up more lot space, the yards that surround them tend to be smaller. If you’re not invested in having a sprawling yard, this won’t be a concern to you. And the upside: you have less lawn to mow and landscape.
Ready to Sell or Buy a Single Level Home in Portland?
Our Portland home search site has a lot of unique features, one of them allows you to search for single level homes only. On the map search simply click the “Filters” button and then select “Single Level”, it is that easy. Visit PortlandHomesForSale.com today and try it for yourself.
Whether you’re ready to sell or invest in one of these ever-popular architectural gems, we’re here to help. Our top 1% seller’s agents and top 1% buyer’s agents have been helping people like you sell and buy homes home for almost 20 years in the Portland metro area. Get in touch with us today by chatting with the bot on this site or calling our direct lines at 503-714-1111 (seller’s agents) or 503-773-0000 (buyer’s agents). We look forward to working with you!July 1, 2022