The typical home seller in 2019 checked in at 57 years old, according to the latest end-year stats provided by the National Association of REALTORS (NAR).
Much like the profile of 2019 home buyers, 89% of sellers worked with an agent to sell their home, while 34% offered incentives to attract buyers. While this particular study doesn’t highlight the kind of incentives offered, some examples of that might be the inclusion of appliances, pre-paid taxes, or the offer to split the cost of repairs.
Perhaps the most impressive stat, in my humble opinion, is that the final sales price of recently sold homes in 2019 sold for 99% of the final listing price. In not so many ways, that can prove one or two things: either buyers are hungry for homes in a market short on inventory, and/or it’s a prime sellers market.
On average, sellers lived in their home for 10 years before deciding to make the move. To that point, 20 miles is typically the distance between the home sold and the new one purchased.
Whether downsizing or upgrading, 44% of sellers indicated that they were trading up for a larger home, netting a median equity gain of $60,000.
If selling is on your agenda for 2020, let’s connect now to discuss ways to prepare for your move and build a plan specific to you and your needs.