Who is selling?

Here are stats on the 99 NSDCC houses sold between March 1 and March 15th – these are the years when the sellers purchased the home they sold:

Year Purchased
12/12/15
3/19/16
6/18/16
12/13/16
4/3/17
0 – 2003
41%
42%
39%
57%
48%
2004 – 2008
23%
29%
24%
19%
15%
2009 – 2011
15%
11%
13%
6%
7%
2012 – 2016
18%
18%
19%
13%
25%
New Homes
2%
1%
5%
4%
4%

With roughly half the homes being owned by the sellers for at least 13-14 years, buyers can expect to do some repairs and improvements!  It is interesting to note that 25% of the sellers were recent purchasers too.  Is that a group consisting of divorces and move-up buyers?

More stats:

Other Categories
12/12/15
3/19/16
6/18/16
12/13/16
4/3/17
Number of Sales
125
114
144
112
99
Avg. $$/sf
$505/sf
$552/sf
$550/sf
$529/sf
$481/sf
Median SP
$1,080,000
$1,129,000
$1,291,500
$1,274,500
$1,110,000
Avg DOM
60
38
42
54
43
Sold in 0-10 Days
24%
32%
35%
28%
45%
Lost $$
11
3
7
7
0
DOM = 0
5
8
7
2
4

I don’t get worked up about the pricing stats – every group of houses is different, and the stats are going to bounce around.  Other notable items:

  1. Of the 99 sales, 24% of the buyers paid cash.
  2. The median days-on-market was 13 days.
  3. No sellers sold for less than they paid!

This is probably how the boomer liquidation will occur – one by one.

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