Being selected as WSJ.com’s House of the Year means triumphing in the weekly polls and then beating out 51 other contenders in the end-of-the-year poll. It can draw crowds to a home’s online listing. But despite the publicity, some Houses of the Year don’t sell fast.
If there is a lesson to be learned from the fate of prior winners, it is that pricing your home low (or well below asking) can induce a speedy sale. While homes listed for over $5 million have lingered on the market, 2016’s winner, priced under $500,000, sold within eight months. The 2015 champ was also snapped up within a year—though it sold for 77% under list price.
2018: A Wellness Obsessive’s Hawaii Sanctuary
The Kauai four-bedroom home remains on the market. Originally listed for $16 million, the price on the 5,284-square-foot estate has since been reduced to $11.8 million.
2017: A Big Sky Manor
Seen on “Keeping Up With the Kardashians,” the 16,113-square-foot Big Sky, Mont., property first listed at $27 million and had several price cuts before the owners decided to keep it. “It was pride of ownership rather than a financial decision,” says Jeff Helms of The Big Sky Real Estate Co.
2016: A Refrigerator Magnate’s Mansion
The 10,148-square-foot home in Kendallville, Ind., sold months before it took the honor. After being featured as House of the Day in February 2015, it sold for $430,000 that May. It first listed in September 2014 at $499,000.
2015: A Queen Anne-Style Home in Florida
This winner made for an unusual story. The Ruskin, Fla., home once stood in Palmetto, Fla. The owners transported it by barge because the 7,000-square-foot Queen Anne-style home was due to be demolished. It was listed in February 2014 for $5 million and sold for $1.15 million that November. The owners still walked away with a profit; because of the looming demolition, they bought the home for $1 in 2006.
2014: A Condo on Lake Tahoe
Set on Lake Tahoe, the 4,100-square-foot California condo is in the Fleur du Lac Estates development, which was featured in “The Godfather: Part II.” Initially priced in 2013 at $6.499 million, it sold in 2016 for $3.72 million.
2013: A Pagoda-Style Home in Suburban Chicago
A 1970s home in suburban Chicago, the 2013 winner was designed by a student of Frank Lloyd Wright, and was listed for about $2.7 million in June 2011. The price was later reduced to just under $2 million and it sold for $1.3225 million in 2013.
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How Past House of the Year Winners Fared on the Market - Wall Street Journal
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