Home Sellers and Their Selling Experience

Home Sellers and Their Selling Experience

1. The typical home seller was 56 years old, with a median household income of $112,300.
2. For all sellers, the most commonly cited reason for selling their home was the desire to move closer to friends and family (18 percent), that it was too small (17 percent), and the neighborhood has become less desirable (11 percent).
3. Sellers typically lived in their home for eight years before selling, the biggest one-year change in tenure since 1985.
4. Forty-six percent of sellers traded up to a larger home and 28 percent purchased the same size home.
5. Ninety percent of home sellers worked with a real estate agent to sell their home, seven percent sold via FSBO, and less than one percent sold via iBuyer.
6. For recently sold homes, the final sales price was a median of 100 percent of the final listing price, the highest recorded since 2002.
7. Recently sold homes were on the market for a median of one week, a drop from three weeks last year.
8. Only 26 percent of sellers offered incentives to attract buyers, a drop from 46 percent of all sellers last year.
9. This year, home sellers cited that they sold their homes for a median of $85,000 more than they purchased it, a jump from $66,000 last year.
10. Ninety-two percent of sellers were at least somewhat satisfied with the selling process.

National Association of REALTORS® 2021 Profile of Home Buyers and Sellers