PRIMARY REASONS FOR SELLING
TODAY ’ S SELLERS | 2
WHO ’ S SELLING NOW ?
Today , the median tenure for sellers to stay in the home they purchased is 10 years . In 1985 the median tenure was just 5 years . This can be attributed in part to the fluctuations in the economy that resulted in homes being worth less than mortgages , causing a delay in homeowners putting their properties on the market .
In today ’ s environment , forecasts predict a strong housing market . New housing starts and resales are on the rise and tightened inventory continues to cause prices to increase . Sellers are now seeing a favorable market where they receive a median of 98 percent of their asking price and sell their homes typically in four weeks .
PRIMARY REASONS FOR SELLING
HOME TOO SMALL 18 %
CLOSER TO FAMILY / FRIENDS 15 %
JOB RELOCATION 14 %
72 % of sellers purchased a home in the same state as they sold a home .
NEIGHBORHOOD 10 % |
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CHANGE IN FAMILY 10 % |
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HOME TOO LARGE 10 % |
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HOME TOO SMALL |
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The most commonly cited reason for selling their home was that it was too small , followed by the desire to move closer to family and friends . For sellers that moved the greatest distances , the primary reason was to relocate for a job . For sellers moving within 10 miles , the most common reason was the home was too small followed by the home was too big , and the neighborhood became less desirable .
98 % is the average of what sellers are receiving of their asking price . 1
4WEEKS is the average amount of time a sellers home is on the market prior to sale . 1
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40 % FIRST-TIME SELLERS |
SELLERS |
60 %
REPEAT SELLERS
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Jessa Harden , HUFF Realty | SELLER ’ S GUIDE TO REAL ESTATE