Do you have any idea of who real estate buyers are? If you have a home for sale, do you have an idea of where home buyers come from? Knowing that will help you as a seller market your home just right!
Home buyer statistics
So what are home buyer statistics? Well, here are some interesting numbers. 38% of home buyers are first time buyers, with a median age of 31 and a household income of $64,400 a year. That means that 62% of buyers are repeat buyers, with a median age of 52 and household income of $96,000 a year. Why are these important to you as a seller? Well, is your home a starter home or an upsize? Market accordingly.
The typical home purchased in 2013 was 20 years old, had 1900 square feet of living area that included 3 bedrooms and 2 baths. Most buyers financed 90% of the purchase price and 88% of buyers used a Realtor. 89% of home buyers found information on their home from a real estate agent, while surprisingly only 45% found them online. In fact, more people found their home from a yard sign than from an internet search! 78% of home buyers said that the neighborhood where the home was located was more important than how big the home was. That makes sense, especially if you have kids. Parents buy in school systems before they buy for other reasons.
How does knowing this help you as a seller?
So how does this really help you as a seller? Think about it this way, a family looking for a bigger home has more money to buy it, and will be looking for real estate in great neighborhoods. Does this fit your home? Now you know you target audience. If it doesn’t, but could, now you know what you have to do to attract them.
Your best bet? Find a Realtor who knows all of this as well as how to market your home to get you the best price! If you are in the Denver area and want the BEST Denver Realtor, give Tena D. a call today! 303-452-5853
Want more information about Buyer and Seller Statistics? Check out the NAR Guide To Quick Real Estate Facts