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2020 Real Estate Market Fast Facts

David Nielsen, MBA

David Nielsen loves helping people transition. He understands that, for many people, your home is your largest investment...

David Nielsen loves helping people transition. He understands that, for many people, your home is your largest investment...

Jan 17 2 minutes read

2020 REAL ESTATE MARKET FAST FACTS

Your quick guide to the national real estate market in 2020 — by the numbers!


Median Home Price: $257,000

Median Length of Time Homes Are on the Market: 3 Weeks

Time it would take for all homes currently on the market to sell: 3.9 Months

Mortgage Rates: Remain historically low, helping new buyers enter the market. Average 30-Year Fixed Mortgage Rates since 2010




Home Buying in 2020

33% of all buyers are first-time buyers. 59% of first-time buyers are

18-34 years old.

Buyers typically searched for 10 weeksand looked at an average of 9 homes.

44% of buyers looked online first

for properties listed in their area.
75% of non-owners see homeownership

as a part of their American Dream.

78% of non-owners believe homeownership is a good financial decision.


Home Selling in 2020

Sellers sold their homes for a
median of 99% of the final listing price.

23% reduced asking price at least once.

In 2019, sellers were getting a median of $60,000 more than what they purchased the home for — in 2018, that amount was $55,500.

31% is the median amount of equity a seller had in the home.


Winning Through Referrals

41% of buyers used an agent referred to them by a friend, neighbor or relative.

66% percent of sellers found their agent through a referral from a friend or family member, or used the same agent they had worked with the last time they bought or sold a home.

90% of buyers and 70% of sellers would use their agent again or refer them to others.





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