In 2015, there were 12 percent more fixer-upper homes on the market in the nation than in 2011, according to Zillow. Furthermore, the age of the "typical home" sold has nearly doubled. In 2006, the "typical home" sold was 15 years old. In 2015, that age has escalated to 28 years.
For Washington, D.C., Zillow reported that the nation’s capital had 95.9 percent more fixer-uppers on the market in 2015 than in 2011. The biggest increases in fixer-uppers were those that were high-end (226 percent more), while affordable and low-end fixer-uppers had the smallest increase (72.5 percent more). The reasoning behind these increases is thought to be due to an increase in inventory.
To come up with this data, Zillow analyzed the number of fixer-upper homes listed for sale beginning in 2011 and ending in 2015. To find these listings, Zillow searched for keywords like "fixer-upper," "TLC," and "needs work."
To understand why there has been such a growth in fixer-uppers on the market, Zillow further reported, "There are not enough homes on the market to accommodate buyer demand in many U.S. metros. As a result, sellers have increasingly more flexibility to list their home for sale ‘as is’ because they know it will likely still sell."
If interested in seeing how other Metro areas in the nation have progressed, check out Zillow’s report here.