Did you know that knowing demographic information about whose home you are buying can help you get the best deal for the home you want? According to the NATIONAL ASSOCIATION OF REALTORS® 2016 white paper entitled “Profile of Home Buyers and Sellers” spells out the characteristics of home sellers from June 2015 through June 2016.
So what are those statistics?
Want more? How about that recently sold homes were on the market for a median of 4 weeks or that only 8% of recent home sales were FSBO sales and that it was the lowest share recorded since the NAR report started in 1981.
Let’s also not forget that 89% of home sellers worked with a real estate agent to sell their homes, The smart ones anyway!
Common reasons for selling
The report also talks about the most common reasons for selling. The first most commonly cited reason is that their current home is too small. The next is a desire to move closer to friends and family or a job relocation.
Some cool fun facts about price
The median final sales price for recently sold homes was 98% of the final listing price and those homes were on the market for an average of four weeks.
You know what else? 36% of all sellers offered incentives to attract you, the buyer. Those home sellers sold their homes for a median of $43,100 more than they purchased it. One of the better reasons to own a home! It nearly always makes you money in the long run.
©2016 “Profile of Home Buyers and Sellers.” NATIONAL ASSOCIATION OF REALTORS®. https://www.nar.realtor/reports/highlights-from-the-profile-of-home-buyers-and-sellers