fbpx

The first posting in this series was on December 12 – let’s check in occasionally to see how long recent sellers owned their home before they sold it.  This is a review of NSDCC detached-home sales that closed in March, 2016:

Year of Previous Sale
1st Review (12/12/15)
2nd Review (3/19/16)
1900-1999
34 (27%)
28 (25%)
2000 – 2003
18 (14%)
19 (17%)
2004 – 2008
29 (23%)
33 (29%)
2009 – 2011
19 (15%)
12 (11%)
2012 – 2016
22 (18%)
21 (18%)
New Home
3 (2%)
1 (1%)

The long-time owners continue to lead the pack, with 42% having owned their home more than 12 years before selling it recently.

Buyers should be prepared for fixers, and sellers should do what they can to improve their home to sell because nearly half of the sales probably look dated.

Interesting that those who could make the quickest big profits, those who bought in 2009-2001, we’re the least likely to sell.

More stats:

Other Categories
1st Review (12/12/15)
2nd Review (3/19/16)
Number of Sales
125
114
Avg. $$/sf
$505/sf
$552/sf
Median SP
$1,080,000
$1,129,000
Avg DOM
60
38
Sold in First 10 Days
24%
32%
Lost $$
11
3
0 DOM
5
8

Pricing is still strong, and buyers are stepping up – with one-third of sales happening in the first 10 days on the market! (I was checking for relists too).

Pin It on Pinterest