Tuesday, January 27, 2009

2008 Profile of a Pennsylvanian Home Buyer

The National Association of Realtors have released their 2008 Profile of Home Buyers and Sellers.

So, what did Buyers in Pennsylvania look like last year?

  • The median age was 38 years old. For first-time Buyers, the median age was 29 (Go you under-30somethings).
  • 66% of home buyers had no children under the age of 18 in the home.
  • 59% were married couples, 18% single females, 11% single males, and 9% unmarried couples.
  • First time home Buyers accounted for 46% of purchases.

And I thought this was especially relevant:

  • 43% of Buyers used social networking websites such as Facebook, MySpace, etc. (Pssst...look to your Right ->)

So what does this mean for Bucks County Sellers?

Well, for one thing, when staging your home, make sure you're appealing to the right age group. If you're selling an entry level townhome, keep those 20-somethings in mind and make sure that it's not their "parents" house. I'll give you a hint - look to Target for some great decorating ideas.

Another thing to keep in mind is the growth of the single Buyer and the fact that a large percentage of Buyers did not have small children in the home. I've been routinely staging my extra bedrooms as a nursery and a child's room, but perhaps a better option would be as an office/guest room - maybe a daybed and a desk?

Lastly, make sure that you're utilizing social networking sites to sell your home. If you're not participating in any of the sites, ask your Realtor if they are, and if / how they plan to market your home on these sites.

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