Archive for February 22nd, 2011

Real Estate Seller Trends

Yesterday I wrote about Real Estate Buyer Trends so today I will focus on Seller Trends. Once again this information comes from Brian Buffini’s Real Estate Report. Here are some interesting seller trends, facts and demographics from 2010:

The Typical Seller’s Median Age: 49

Where Did the Seller’s Move?:   

 50% Traded

28% Bought a comparably Sized Home

21% Traded Down

Why Did the Seller’s Move?:

21% home was too small

15% job relocation

Sellers usually moved 18 Miles from their previous home.

The typical home sold for 96% of the final asking price.

Median Home Price Received by Sellers:

Using a Real Estate Agent:    $199,300

Sold Directly by the Owner:  $140,000

Top 5 Home Improvement Projects with Best Return on Investment:                                                  

1. Cleaning and Decluttering                

2. Lightening and Brightening         

3. Home Staging                                              

4.Landscaping                                                

5. Repairing Electrical/Plumbing     

Keep in mind that these numbers are median numbers on a national level and are probably different for you on a local level. Also, I found it very interesting that the homes sold by owner sold for less than the homes sold by a realtor. Even when you take the typical 6% commission out the realtor sold homes sold for more!

If you would like additional tips on selling your home in the Boise, Idaho area please go to my posts on “How to Sell Your Home in Today’s Market” and “Selling Your Home in the Winter”. If you would like a current CMA for your home in the Boise, Idaho area to see what the current value is please go to my website (no sign up required): http://www.BoiseRealEstateChick.com

Article referenced: Brian Buffini’s Real Estate Report, Buffini & Co.

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