91% of sellers listed with a Realtor®

This past year was definitely a strong seller’s market, according to recently released data from the National Association of Realtors®. With stiff competition among buyers for the low number of listings available in the marketplace, you might think that homeowners would opt to sell their own houses. However, for-sale-by-owner properties were at an all-time low. In fact, 91 percent of sellers listed with a Realtor® in order to take advantage of the professional agent’s knowledge of the market and expertise in negotiating the sale.

Here are some other trends about home sellers in 2018:

* Nearly 45 percent moved up to a larger house.

* The median gain in their home equity was $55,000.

* The average time spent living in the home before selling was 9 years.

* The typical distance between the property sold and the property purchased was about 20 miles.

Tiffany Williams