Smart home technology — all those cool, trendy internet-connected power outlets, thermostats and other devices that you either don’t know about or totally take for granted — have undergone a revolution this year, and the trend continues. Whereas the concept of a “smart home” has been around since the mid-20th century, it’s only in the past two to three years that inexpensive and widely available smartphone-controlled devices like the Nest thermostat and the Belkin WeMo switch have brought the technology into the mainstream.
Their effect on the real estate market has been both fast and dramatic. One real estate agent, who specializes in the luxury home market, noted such features have moved “from an impressive amenity to an expected element” in high-end homes. And with the cost of devices dropping even as their functionality improves, that same shift is taking over the housing market overall.