Yesterday we wondered if there was a possible threat of a baby-boomer liquidation sale in the coming years, and we had a load of comments – thanks for participating!.
Can we get a feel for what’s happening now? Here’s a check of the 67 NSDCC houses that have sold between $750,000 and $1,000,000 in the last 30 days.
These are the years when the sellers purchased:
Only a couple sold for less than the price they paid, and there were 3 short sales too (no REO listings). The newer homes in Carmel Valley bolstered the more-recent stats too.
About 36% of the sellers bought their home prior to 2001, and are probably baby-boomers (or older). Most will at least be empty-nesters by now, and could be candidates for the ‘downsize and travel’ crowd. If their numbers increased, they would most likely be offering older fixers upon which flippers can feast, and eventually be sold to those looking for a substitute for new homes, which are in short supply.