Fast Market Facts
■ Buyers are searching longer: the average buyer is searching longer for a home, up from 8 weeks to 10 weeks.
■ A home seller’s online presence is critical to effecting a sale. Nearly 96% of all buyers relied upon digital platforms in their search process.
■ It seems that mobile online searches surpassed those conducted on laptops or desktops.
■ Research shows that two-thirds of all buyers interviewed only one real estate agent.
■ Existing home purchases still dominate the market, accounting for 88% of all homes purchased.
■ Senior-living purchases accounted for only 7% of all sales.
■ Neighborhood quality (low crime, convenience and community) accounted for 49% of the determining factors when purchasing a home.
■ Over the last 12 months — buyers paid on average 100% of the asking price for a home, and 28% paid above the asking price.
■ The number of first-time buyers fell to a new low of 26% of all purchases. This compares with 34% from the prior year.
■ Married couples still represented the majority of home purchases, accounting for 61% of the home purchase sales.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single-family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.
Connect with Ralph on LinkedIn: https://www.linkedin.com/in/ralphaponte/