Who is selling?
The last column below is regarding the 99 NSDCC houses sold between June 13-22 – these are the years when the sellers purchased the home they sold:
Year Purchased | ||||||
0 – 2003 | ||||||
2004 – 2008 | ||||||
2009 – 2011 | ||||||
2012 – 2017 | ||||||
New Homes |
This year we’ve had an increase of recent purchasers selling!
Are they moving up, or cashing out?
I’ve been having more thoughts about the older boomers selling. Though the long-timers here still make up a large group of sellers, they may not all be as old as I imagined. With a third of sellers being recent buyers, it suggests that there could be more mobility – buyers may not be buying their forever home.
Are more people making one last move-up?
Or are they making a quick buck and cashing out?
The younger boomers:
- Probably moved up a couple of times, not sitting on family homestead.
- Are used to moving more.
- Are more physically capable of moving.
- Have a little less connection to the neighborhood.
- Still have some adventure left in them.
But younger boomers:
- Are more likely to still be working.
- Are more likely to still have kids at home.
- Are more capable of modifying their home.
- Don’t need assisted living.
There weren’t many pure flippers in the 2012-2017 group, so we’ll see if the trend continues. It could be an anomaly.
More stats:
# of Sales | ||||||
Avg. $$/sf | ||||||
Median SP | ||||||
Avg DOM | ||||||
0-10 DOM | ||||||
Lost $$ | ||||||
DOM = 0 |
Other notable items:
- Of the 99 sales, 35 sold at or above list price.
- The median days-on-market was 18 days.
- We have duplicate listings now that we are semi-merged with CRMLS, which will alter up the average and median data.
I think you may be missing the more obvious story here. 48% of sellers bought post bubble burst. They are moving up now which explains the heat in the market over $1m that we may never have seen before
Is it possible that the 34% of sellers who bought houses between 2012 & 2017 are the large corporations that purchases hundred/thousand of houses after the crash and are now unloading for a nice profit?
Is it possible…
Not in this case – I’m looking at the tax records and the owners were all individuals.
Thanks for looking it up.