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Home Buyer and Seller Trends in 2020

Here’s a recap of the home buyer and seller profiles report from the National Association of Realtors (NAR) for 2020. 

Home Buyers

  • 88% of buyers worked with an agent to purchase their home. Here are 5 reasons buyers should use an agent.
  • 51% of buyers said that having an agent help them find the right home was what they wanted most when choosing an agent.
  • 91% of buyers would use their agent again or recommend them.
  • 18% of buyers contacted a real estate agent as their first step in the buying process, while 43% looked online for homes as their first step.
  • 73% of buyers only interviewed one agent.

Home Sellers

  • The main reasons for selling a home: 15% wanted to move closer to friends and family, 14% said their home was too small, and 12% had a change in their family situation.
  • 89% of sellers worked with an agent to sell their home
  • FSBOs sold for significantly less than homes sold with an agent. The median selling price for FSBO homes was $217,900, and the median selling price for agent-assisted homes was $242,300.
  • The nal sales price for recently sold homes was a median of 99% of the nal listing price.
  • 77% of sellers only interviewed one agent.

If you are thinking about buying or selling on the beautiful Sanibel or Captiva Islands, contact Phaidra McDermott today. 

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