HomeIndustryHomes with a Pizza Oven or Outdoor Kitchen Command a Premium Price
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Homes with a Pizza Oven or Outdoor Kitchen Command a Premium Price

Having an outdoor kitchen or pizza oven isn’t just a great way to make food, it also helps command a higher selling price of your home. Zillow did an analysis of nearly 1 million home sales in 2023 and found just how much having outdoor features helped.

An outdoor oasis doesn’t just help with a price bump either. Highlighting these features in a listing can give a competitive advantage against other homes on the market.

The analysis found that a home with an outdoor pizza oven sold at a 1.9% price premium more than expected. An outdoor kitchen on the other hand commanded a 1.7% premium. Both were in the top 10 of features that have a price premium.

That means a home that otherwise would fetch $400k would receive a premium of $7,600 with a pizza oven and $6,800 with an outdoor kitchen. Especially with an outdoor kitchen that doesn’t cover the cost of building one, but it does yield a return to lower the burden.

Methodology

Zillow described their methodology for arriving at the percentage premiums.

This analysis used multiple regression, comparing home listings’ final sale prices and time on market against their pre-listing Zestimate as well as the presence or absence of 359 features being mentioned in the listing descriptions. The analysis used sale records and listing data from almost 1 million homes listed for sale in 2023 for which complete data was available.

The analysis proceeded in two stages: First, an elastic net regression was conducted to shrink the feature list to only those with non-zero weight, or in other words, only those that improved out-of-sample predictive capacity during fivefold cross-validation; second, ordinary least squares regression was conducted using the remaining features.

Full Top Ten

While two outdoor cooking categories made the list, another outdoor living amenity took the top spot. With a 3.1% price premium, having an outdoor TV is number one. In general, outdoor living was the most dominant category on the list.

FeaturePrice Premium
Outdoor TV3.1%
Soapstone3.0%
Matte black2.9%
Outdoor shower2.6%
Beverage center2.4%
Bluestone (patio)2.3%
She shed2.0%
Pizza oven1.9%
Quartz1.7%
Outdoor kitchen1.7%
Top 10 features that sell a home for more than expected – Source: Zillow
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SourceZillow
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