Sellers Lived In Their Homes 50% Longer Than in 2007 Before Selling
Earlier this month I highlighted some of the results of the 2013 National Association Of Realtors (NAR) survey of recent home buyers. In that same survey NAR also asked recent sellers for feedback on their home sale – here are some highlights:
– The typical home seller lived in their home for 9 years. As recently as 2007 the median tenure in a home was 6 years. Sellers are staying put longer due to the decrease in equity of their homes
– 50% of sellers traded up to a larger and more expensive home
– 59% of sellers purchased a new home
– Sellers sold their homes for an average of 97% of the listing price, and 47% reported they reduced their asking price at least once
– 36% of sellers offered incentives to attract potential buyers – most often in the form of a Seller Assist or home warranty
– 13% of sellers delayed selling their home because they were underwater – their home was worth less than the mortgage due
– For Sale By Owners (FSBO) saw an average sale price of $184,000 versus $230,000 among homes sold via a real estate agent
As of 11/20/2013 there have been 171 sellers in Wallingford PA, those 171 homes selling for an average sales price of $319,346.
Wallingford PA Real Estate – Wallingford, PA 19086
