There are superstitions about numbers in both East and West.
For example, in the West, 13 is an unlucky number and 7 is a lucky number. Today we are going to look at how these numbers affect the selling price of a house.
According to Zillow's big data analysis, you can find the effect of a specific number on the selling price of a house by:
If "666" is included in the listing price - the average sale price is 3.2% lower than the expected price.
If the home address number is "13" - Surprisingly, the sale will be 2% higher than the expected price. (However, the book also informed that the total number of houses with address number 13 is less than half the number of houses with address number 12 or 14.)
If the house number includes "777" (eg 17775 main st.) - In this case, the sale is also surprisingly 1.7% lower than the expected price.
When the house number is "777" - In this case, it is said that the sale is unexpectedly 2.1% lower than the expected price.
If the house number is "7" - However, in this case, the sale will be 1.8% higher than the expected price.
If "316" is included in the street number of the house (for reference, it is a number that Christians like because of the words of John 3:16) - In this case, it is said that the sale price is 1.2% higher than the expected price.
Will Asians be affected similarly?
According to the book, the regions most strongly affected by certain numbers are regions with a large Chinese population.
As you well know, in Eastern cultures, including China, "4" is considered unlucky because it has the same pronunciation as the word “death”.
On the other hand, "8" has the same sound as the Chinese character for abundance, so it is considered a lucky number.
The table below shows
The middle column shows the percentage of Chinese in the area.
On the right is the percentage of listings with a number ending in 4 in the front of "0" among the total listings in the market.
The far-right is the percentage of listings with an 8 in front of "0" among the listings in the market.
As you can see, (very interestingly) in places with a high proportion of Chinese, there are noticeably fewer houses ending in 4, and noticeably more houses ending in 8.
If so, will the actual 4's and 8's have any effect on the selling price of a house in these areas?
of course. If the number 8 is the last none zero number of the listing price,
Regions with less than 10% Chinese population - no significant impact.
Areas with more than 10% Chinese population - sold for 1.5% above the estimated value of the home. In other words, a house for $400K is expected to sell for $406K
What about the number 4?
If the number 4 is the last none zero number of the listing price,
Regions with less than 10% Chinese population - Selling 0.4% lower than houses in surrounding areas
Regions with 10% or more Chinese population - sold for 1% less than the estimated selling price of the home.
As you can see above, if you really want to sell your house even for a few hundred dollars higher, I think it's a tip to research the characteristics of the area and set the price accordingly. If you ask a realtor you work with, you can easily get demographic information about the area.
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