The National Association of Realtors do studies every year of Buyer & Seller Characteristics. Here are some highlights of those studies July 2014 - June 2015. Keep in mind that these are national numbers!
Buyer Characteristics
The median age of all buyers was 44 having an annual income of $86,100. Sixty - seven percent were married, 15 percent were single females, 9 per cent were single males and 7 percent were unmarried couples.
The Median Home Characteristics:
* 16% were new home and 84 % were resales.
* 83% were single family detached.
* Median price $220,000
* Median size - 1900 square foot, 3 bedrooms, 2 baths
* Median age - built in 1991
First Time Home Buyers - Breaking out first time home buyers the studies found:
* The median age: 31
* Median income: $69,400
* Typical house was 1620 square feet costing $170,000
Seller Characteristics
* The typical home seller was 54 years old and 77 percent were married.
* Median household income: $104,100
* Typical time in their home before selling was 9 years.
* The most common reason for selling was that their current home was too small (16 percent). Other reasons were job relocation (14 percent) and desire to be closer to friends and family (13 percent).
* Average list to sale price 98%
* Median time their home was on the market - 4 weeks
* Equity gain from when they bought averaged $40,000.
* Sellers moved a median distance of 20 miles.
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