The National Association of Realtors® just released the results of their 2009 Profile of Home Buyers & Sellers for individual cities. So we can now see how Columbus buyers and sellers responded to the national survey. There were some areas where Columbus was very similar to the nation and other areas where we differ. The survey was sent to buyers and sellers who did their thing between July 2008 to June 2009. The following represents the data for Columbus. See how YOU compare to others.
Home Buyers
- 51% were 1st time buyers vs 47% nationwide.
- Typical 1st time buyer was 28 yrs old, while repeat buyers were 45 yrs old.
- The 2008 median household income of buyers was $72,500.
- 20% of the home buyers were single females vs only 8% for single men. 58% were married and 11% were unmarried couples.
- The typical buyer searched for homes for 10 weeks and actually viewed 14 homes.
- 81% used a real estate agent to help with their home purchase.
- 95% financed their home purchase. The typical buyer financed 94% of the purchase price.
- For 40% of the buyers, their 1st step was to look for homes online. Eventually, 90% of the buyers used the Internet to search for homes.
Home Sellers
- 93% used a real estate agent to list their home.
- Sellers typically sold their home for 96% of the list price. 65% said they had reduced their price at least once.
- 98% of the sellers said their home was listed or advertised on the Internet.
Characteristics of Home Purchased
- 17% of the homes purchased were new-builds.
- The typical home had 1800 sq ft.
- 83% were single-family homes.
- The median price was $165,000 compared to $185,000 nationwide.
- The median price for 1st time buyers was $138,500 while the median for repeat buyers was $208,000.
Where the buyer found the home they purchased
- 41% first found the home on the Internet
- 31% found it via their real estate agent
- 12% found it via a yard sign or open house sign
- 7% found it thru a builder
- 6% found it thru a friend, neighbor or relative
- 2% found it thru print newspaper ads
Methods real estate agents used to market the home for sellers
- 98% listed on the Internet
- 88% used a yard sign
- 59% held an open house
- 25% ran newspaper ads
- 21% ran magazine ads
- 20% sent direct mail (flyers, postcards)
- 5% used TV
- 3% used social networking sites (e.g. Facebook)
Did you discover any surprises? How did you compare to others?
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