Are certain home prices Lucky?

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Are certain home prices Lucky?

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In our quest of all things real estate, especially the finance side of things, we came across an interesting article on Trulia related to the impact of the numbers in your price and the correlation to the sale of your home. Is it better to end in a 9? Maybe a 7? Does the numbers in your price help you get “lucky” in finding a buyer? What better time to explore the luckiest home price numbers then the month of March! While many will be celebrating St. Patrick’s Day – we will try to understand how the psychology of lucky numbers can affect selling your home. 

calculating moneyEnding in 9 – Statistically speaking 0 is the most prominent numeral for the last digit in a home price, however 9 is a close second. The number 9 is especially used as the last digit when homes have a reduced price. So, if you are advertising your home as a specifically good deal, then ending the price in 9 is a strategic choice. 

Lucky Number 7 – Nationwide, seven is not a predominant number, especially as the last digit, with the exception of Las Vegas, NV homes. Perhaps we should take advice from a city dedicated to luck and use their philosophy. Strategically placing 7 in your home price could put lucky number 7 to work for you and bring in more buyers. 

8 is Great – In Chinese culture, 8 is considered a very lucky number because its pronunciation is similar to the pronunciation for the word wealth. Consider including 8 in your home price if your home is in a predominately Asian neighborhood, or if 8 is your lucky number! 

5 is Alive – After zero and nine, five is the most common number for the last digit of a home price. The psychology of 5 is simple: it’s half of something. Conveying a middle ground cost, not undervalued or overvalued but fairly, squarely in the middle. 

 Statistically speaking, it is hard to convince me that the numerals in your home will put luck on your side for an easy sale. We have found no such statistic, but it is interesting to consider the human element of numeral association and how that could affect buyers considering homes to purchase.