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:
|0 – 2003|
|2004 – 2008|
|2009 – 2011|
|2012 – 2016|
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?
|Number of Sales|
|Sold in 0-10 Days|
|DOM = 0|
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:
- Of the 99 sales, 24% of the buyers paid cash.
- The median days-on-market was 13 days.
- No sellers sold for less than they paid!
This is probably how the boomer liquidation will occur – one by one.