Who Are Typical Buyers and Sellers in Today’s Real Estate Market?

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The National Association of Realtors has published their 2016 profile of buyers and sellers and here are the takeaways:

  • In 1981, the typical buyer’s age was between 25-34, for the third year in a row, the 2016 average age of a buyer is 44.
  • Newly-constructed homes made up 14% of all home sales in 2016, while 86% were resales.
  • Sellers live in their homes an average of 10 years.
  • Houses that have been sold were on the market an average of four weeks. (If your house has been on the market longer, it may be time for a price reduction.)

If typical buyers are between the ages of 25-34, and your home is overdue for an update, let’s talk! Start freshening up and streamlining so that you can love your house and make selling it easy.  I will work closely with you in guiding you step-by-step.

 

2016-buyer-seller-profiles
Infographic from National Association of Realtors

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