NAR PROFILES OF BUYERS AND SELLERS

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Real Estate Agent with Re/Max Professional Associates 74203

SELLERS - 75% of the sellers are married.  Their median age is 49.  40% have at least one child under 18.  Age makes a difference in the size of the home purchased.  18-34 years old bought homes 100 sq ft bigger than the median.  35-44 traded up to homes 200 sq ft bigger than the median.  55-64 bought smaller homes, downsizing.

HOW LONG DID THEY OWN THEIR HOMES AND HOW MUCH EQUITY?  The typical home seller owned the home home for 8 years.  Detached single family home, which are the larger share of property sold, owned their homes for 9 years.  Condos with more than 5 units, 6 years.  The longer you owned a home generated a higher equity than those owned fewer years.  The good news is that the average dollar equity was $33,000 according to NAR.

WHY DID THEY SELL?  21% sold because the home was too small.  Job relocation - 15%, they were in the 45 to 54 age group. 55 years an older it was to move closer to friends and family.

WHAT PERCENTAGE USED A REAL ESTATE PROFESSIONAL?  In 2001 the number was 71%.  In 2010 it is up to 88%.  Nearly 9 out every 10 homes sold used a real estate professional.

Go Realtors!

 

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Gerry Michaels
Glasswork Media Arts - Gettysburg, PA
GettysburgGerry Social Meida

This is great info, I am interested as to why the percentage of those that used a Realtor jumped so much, I understand that it is tougher to sell a home these days, but those are some big gains, nice post

Dec 27, 2010 02:06 PM #1
Rainer
240,570
Michele Miller ~ REALTOR®, LMC, HSE, CHS, SRES, CMRS
ERA Key Realty~Worcester County Realty Group - Worcester, MA
'Helping You Make the Best Move"

Nice to see the jump with in the use of REALTORS. It should be 100%.

Thanks for the great information Conrad!

Dec 27, 2010 03:12 PM #2
Rainmaker
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Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Michelle & Gerry,

I would love to see 100% Realtor use but that will never happen.  I think NAR has done an adequate advertising of the Realtor benefits.

Dec 27, 2010 05:16 PM #3
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Rainmaker
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Conrad Allen

Webster, Ma, Realtor
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