Are you thinking of selling your home in the Greater Brockton or South Shore area? The following information is important to you.
In a recent article published by the National Association of Realtors they discussed the profile of your potential buyer. Here are some highlights:
Characteristics of home buyers
The typical home buyer is 39 years old, while the repeat buyer is 46 years old.
- The 2006 median household income of buyers was $74,000. Among repeat buyers, the median income was $85,700.
- ¾ of home buyers between the age of 18 and 24 purchased a home because of their desire to own a home of their own and establish a household.
Characteristics of Homes Purchased
- The typical home purchased was 1,810 square feet in size.
- 67% of first-time buyers purchased a detached single-family home, compared with 79% of repeat buyers.
- The median distance recent buyers moved was 13 miles.
- Buyers typically plan to stay in their home for 10 years.
The Home Search Process
- Nearly 1/3 of recent buyers reported that their first step in the home buying process was looking online for properties for sale. (This is why I have focus much of my marketing on the internet)
- 84% of home buyers used the internet to search for homes.
- The typical home buyer searched for 8 weeks and viewed 10 homes. ( Why it is important that the agent have systems in place to follow up with potential buyers)
- Real estate agents were viewed as a very useful information source by 70% of buyers searching for a home.
Home Buying and the Real Estate Professional
- 79% of buyers purchased their home through a real estate professional.
- 43% of buyers found their agent through a referral from a friend or family member.
- The most important factor buyers consider when choosing an agent is their honesty and integrity.
- 68% of buyers would definitely use their real estate agent or recommend the same agent to others.
Find this information useful. Want to know more? Call Cidalia Mendonca Matukas at 781-389-7252
www.HomesbyCidalia.com
Cidalia@kw.com
781-389-7252
