Interesting facts about Florida home buyers and sellers
Several weeks ago, Florida Realtors released a report profiling home buyers and sellers in the state. The following is a summary of key points from that report:
- 25% of buyers were first time buyers, as compared to 39% nationally.
- The typical Florida buyer was 55 years old compared to 42 years old nationally.
- 66% of buyers were married.
- 40% of buyers began their search online; 86% of all buyers used the internet sometime during the buying process.
- 84% of buyers used a real estate agent.
- The average buyer looked for 10 weeks and saw 10 homes before buying.
- The typical seller lived in their home 9 years before selling, up from only 6 years in 2007.
- 92% of sellers used a real estate agent.
- 5% of home sales were done as For Sale By Owner, and 40% of those knew the buyer beforehand.
- 32% of sellers offered incentives to attract buyers
- The average home sold for 93% of the listing price.
- 67% of sellers dropped the list price at least once before the home sold.