How much do move-up buyers typically move up? Rule of thumb is an increase of about 50% in both size and price.
That means if a buyer sells for $250,000 they might buy for $375,000… and if the home they sell is 1,500 sq ft, the home they buy might be 2,250 square feet.
Move-up buyers often have more than twice as many homes to choose from in their move-up price range as buyers in the price range of the home they are selling.
There is a 1 month supply of home for sale in the $190k-$250k price range, 1.5 month supply in the $250k-$350k… and 2.9 months supply in the $350k-$500k price range.
RE/MAX Results HomesMSP Team – email@example.com