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2017 Home Buyer and Home Seller Trends

Home Seller TrendsHome For Sale Sign

Real estate agents help sellers market and price their home competitively, and lower the amount of time their home is on the market. According to an annual survey from the National Association of Realtors (NAR), trends for home sellers this year indicate:

  • Home sellers who used a real estate agent remained historically high at 89%.
  • For Sale By Owner (FSBO) home sales were at 8%, which has been the lowest recorded level for three years.
  • The average tenure for a homeowner is 10 years. In the past, homeowners remained in their homes around six to seven years.
  • FSBO homes generally sold for much less than homes sold by a real estate agent. FSBO homes sold at a median of $190,000 and the median for homes sold by an agent was $250,000.

Keys to HomeHome Buyer Trends

Real estate agents help buyers find the right home and negotiate prices and terms of sale. Here are some buyer characteristics from the NAR survey:

  • Home buyers who used a real estate agent remained historically high at 87%.
  • Buyers who purchased directly from a builder or previous owner declined.
  • Thirty-four percent of buyers were first-time home buyers. The historical average is 40%.
  • Buyers generally purchased more expensive homes due to increased housing market prices.
  • Eighty-five percent of buyers purchased previously owned homes.
  • A buyer typically searched for a home for about 10 weeks.
  • The most difficult aspect of the home buying process was finding the right home.

Whether you’re looking to buy or sell a home in Central Vermont, Heney Realtors can help. Contact us today!

 

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