The National Association of Realtors (NAR) recently released the 2019 annual report providing the latest profiles of home buyers and sellers. Here are some key takeaways from this year’s survey.
Home Buyers
For many, buying a home is one of the largest financial decisions you will make. A great real estate agent will help you find the right home for you. They will listen to your needs, guide you through the home buying process, and negotiate with the seller on your behalf and in your best interest.
- 89% of buyers purchased their home through a real estate agent.
- What buyers wanted the most when choosing an agent was to have an agent to help them find the right home.
- 90% of buyers would use their real estate agent again or recommend them.
- 87% of buyers said their agent was a very helpful information source.
- The average time buyers spent looking at homes was 10 weeks.
- 87% of buyers purchased a single family home.
- The typical home purchased was 1,850 square feet with 3 bedrooms and 2 bathrooms.
Home Sellers
The right real estate agent is a local market expert who knows how to price your home to sell for the best price in the least amount of time. They will guide you through the entire home selling process with confidence and ease. Your agent will negotiate terms with the buyer on your behalf and in your best interest.
- 89% of home sellers sold their home through a real estate agent.
- FSBO homes generally sold for much less than homes sold through an agent. FSBOs sold at a median of $200,000 while agent assisted homes sold at a median of $280,000.
- The average homeowner lived in their home for 10 years before selling.
If you are looking to buy or sell a home in the Greater Boston area, contact Barrett Sotheby’s International Realty today.
