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® 2021 white paper entitled “Profile of Home Buyers and Sellers” spells out the characteristics of home sellers from June 2020 through June 2021.
So what are those statistics?
Well how about that the typical home seller was 47 years old in 2021, or that sellers typically lived in their home for 10 years before selling.
Want more? How about that recently sold homes were on the market for a median of 3 weeks,
Let’s also not forget that 88% 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 the desire to move closer to friends and family and the house to small is the second commonly reason.
Some cool fun facts about price
The median final sales price for recently sold homes was 99% of the final listing price and those homes were on the market for an average of 3 weeks.
You know what else? 33% of all sellers offered incentives to attract you, the buyer and one more… the home sellers sold their homes for a median of $66,000 more than they purchased it! One of the better reasons to own a home! It nearly always makes you money in the long run.
©2021 “Profile of Home Buyers and Sellers.” NATIONAL ASSOCIATION OF REALTORS®. https://www.nar.realtor/reports/highlights-from-the-profile-of-home-buyers-and-sellers