Interesting Seller Data from NAR

From the 2011 NAR Profile of Home Buyers and Sellers

Length of Homeownership

Sellers owned their homes for a median of 9 years. Sellers above 45 owned for upwards of 10 years and those 65 to 74 sold after 14 years. Medium tenure in a home was 6 years in 2007.

Median Sale to List Price vs. Market Time

Overall, sellers sold their homes for 95 percent of list price, within a median market time of about 9 weeks. Other results:

Median Sales to List Price

Market Time (Ex. 6-31)

100%

Less than 1 week

98%

1 to 2 weeks

97%

3 to 4 weeks

96%

5 to 8 weeks

94%

9 to 16 weeks

90%

17 weeks of more

2% of homes sold in less than1 week got more than asking price; 50% of homes taking 17 weeks or more got less than 90%.

Number of List Price Reductions Over Time

Reductions

In No. of Weeks (Exhibit 6-32)

No. of Times

For All Sellers

Less than
1 week

1-2 wks

3-4 wks

5-8 wks

9-16 wks

17 plus

None

39%

89%

79%

60%

40%

28%

6%

One

26%

9%

18%

34%

48%

31%

22%

Two

14%

*

3%

5%

7%

27%

23%

Three

10%

*

1%

1%

3%

19%

22%

4 or more

10%

2%

*

1%

2%

3%

27%

                                    * Less than 1%

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Blog Archives

Tags