Archive for February 21st, 2011

Real Estate Buyer Trends

Brian Buffini recently put together a “Real Estate Report” that lists some great facts, trends and demographics. I found much of this information extremely helpful for buyers and sellers, but today I will focus on the buyer.

Please keep in mind that these numbers are on the national level so it could be very different in your local market.

Median Price Paid: 1st time home buyer – $152,000   

                                                         Repeat Buyers –  $215,000

Average Income of First Time Buyer: $59,000

Percent of  Buyers Who Were First Time Home Buyers:

                                                                                             2010 : 50%                     

                                                                                             2009  : 47%

                                                                                              2008 : 41%

The above statistics show that in 2008 home affordability was down and that investors were heavily in the market. 

The average buyer searched for 12 weeks and viewed 12 homes.

The typical buyer purchased a 3 bedroom/ 2 bathroom home with the average square footage being 1540 and cost $152,000.

The Three Top Factors That Influence Where a Buyer Purchases:

1.- Quality of the neighborhood

2.-Convenience to work

3.-Affordability of the home

Who Bought Homes:

50% married couples

20%  single women

12%  single men

8% unmarried couples

1% other (not sure what “other” could be, hmm…)

What Buyers Need Most From Their Realtor:

Finding the right home

Negotiating the terms of the sale

Negotiating the price

Completing the paperwork

Do  you have the right realtor working for you? If you would like the right realtor working for you or additional information regarding the real estate market in the Boise area please go to my website (no sign up required): http://www.BoiseRealEstateChick.com

or email me: mary@heritagewifi.com

Article referenced: Brian Buffini’s Real Estate Report 2011- Buffini and Co.

  

 

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