Snapshot on Home Seller in 2018 (Infographic)
This annual survey conducted by the NATIONAL ASSOCIATION OF REALTORS® of recent home buyers and sellers provides insight into detailed information about their experiences about selling their home in 2018. Tightened inventory is affecting the home search process of buyers. Due to suppressed inventory levels in many areas of the country, buyers are typically purchasing more expensive homes as prices increase. The number of weeks a buyer searched for a home remained at 10 weeks. Buyers continue to report the most difficult task for them in the home buying process was just finding the right home to purchase.
Highlights of Home Seller in 2018
- For all sellers, the most commonly cited reason for selling their home was that it was too small (15 percent), followed by the desire to move closer to friends and family (14 percent), and a job relocation (13 percent)
- Sellers typically lived in their home for nine years before selling, down from last year
- Ninety-one percent of home sellers worked with a real estate agent to sell their home
- For recently sold homes, the final sales price was a median of 99 percent of the final listing price
- In 2018, home sellers cited that they sold their homes for a median of $55,500 more than they purchased it
- Ninety percent of sellers listed their homes on the Multiple Listing Service (MLS), which is the number one source for sellers to list their home
- Only seven percent of recent home sales were FSBO sales again this year. This is a decrease from last year and is the lowest share recorded since this report started in 1981
Selling your home in Phoenix AZ
Contact Us or call Swee Ng at 480.721.6253 today to discuss your potential Phoenix House Value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your home is worth at today’s market.
Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.
If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us. Contact us today for complimentary consultation.
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