2011 Sellers and Sales
Overall it looks like 2011 was a great year to trade up for a lower payment. There is a clear change in some of these numbers for sellers.
- Half of sellers traded up for a larger and/or higher priced home
- 60% purchased newer homes
- Typical seller had lived in therir home for 9yrs (up from 6yrs in 2007)
- 87% used teh assistance of a Real Estate Agent
- Tyically homes were sold for 95% of the listing price
- 61% reduced their asking price at least once
- 41% of sellers offered incentives to attract buyers (primarily home warranties and closing costs)
- 39% of Agents were reffered by friends of family
- 22% used an Agent they had priviously worked with
- 2/3rds of home sellers only contacted one agent before selecting theirs
- 92% of sellers reported their home was advertised online
- 85% said they would definitely use their agent again
What about FSBOs?
- 10% of home sales were completed without the assistance of an agent
- 40% of sellers knew the buyer prior to the home being purchased
- 37% reported they did not use a Realtor because they did not want to pay a fee or commission
- More than one third of FSBOs took no action to market their home
- 59% of FSBOs offered no incentives
- Typical FSBO home sold for $150k compaired to $215k for agent assisted home sales
Previous Posts on the 2011 Profile of Home Buyers and Sellers
2011 Profile of Home Buyers and Sellers Introduction
2011 Profile of Home Buyers and Sellers Environment & Characteristics of Home Buyers
Characteristics of Homes Purchased in 2011 Profile of Home Buyers and Sellers
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