Home Selling Statistics

 

Overview of the Real Estate Market

  • 5,250,000 existing homes were sold in 2015, according to data from the National Association of REALTORS®. 510,000 newly constructed homes were sold in 2015, according to the U.S. Census Bureau.
  • The Association of Real Estate License Law Officials (ARELLO) estimates that there are about 2 million active real estate licensees in the United States.
  • According to the 2012 Economic Census, there are 86,004 real estate brokerage firms operating in the United States.
  • There are approximately 115 million occupied housing units in the United States, according to the 2013 American Housing Survey.
  • The typical owner-occupied home was built in 1976; the typical renter-occupied home was built in 1973.
  • The typical home size is 1,500 square feet.
  • The typical home owner is 55 years old, and has lived in the current home for 14 years.
  • In 2013, 65.2 % of families owned their primary residence, according to the Federal Reserve’s Survey of Consumer Finances.

 

 

Home Seller Statistics

  • The typical home seller in 2013 was 54 years of age, had a median household income of $104,100, and lived in their home for 9 years.
  • 89% of sellers were assisted by a real estate agent when selling their home.
  • Recent sellers typically sold their homes for 98% of the listing price, and 43% reported reducing the asking price at least once.
  • The typical home sold was on the market for 4 weeks.
  • 42% of sellers who used a real estate agent found their agents through a referral by friends or family, and 24% used the agent they previously worked with to buy or sell a home
  • Sellers who definitely would use same agent again: 67%

For Sale By Owner (FSBO) Statistics

  • FSBOs accounted for 8% of home sales in 2014. The typical FSBO home sold for $210,000 compared to $249,000 for agent-assisted home sales.
    • FSBO methods used to market home:
      Yard sign: 42%
      Friends, relatives, or neighbors: 32%
      Online classified advertisements: 14%
      Open house: 14%
      For-sale-by-owner websites: 15%
      Social networking websites (e.g. Facebook, Twitter, etc.): 15%
      Multiple Listing Service (MLS) website: 10%
      Print newspaper advertisement: 3%
      Direct mail (flyers, postcards, etc.): 3%
      Video: 2%
      Other: 1%
      None: Did not actively market home: 25%
  • Most difficult tasks for FSBO sellers:
    • Understanding and performing paperwork: 12%
    • Getting the right price: 6%
    • Preparing/fixing up home for sale: 6%
    • Selling within the planned length of time: 18%
    • Having enough time to devote to all aspects of the sale: 6%

 

Source: 2015 National Association of REALTORS® Profile of Home Buyers and Sellers