Florida Homebuyer Stats

The Florida Association of Realtors has released the stats of 2013 Florida homebuyers:

Homebuyers:

• 27 percent were first time buyers compared to 38% nationally
• The typical Florida buyer was 55 years old and first time buyer was 34 years old
• The median household income of the Florida buyer was $82,100
• 66 percent were married couples

Characteristics of Florida homes purchased:

• 22% were new homes
• The typical home was 1,900 sq. ft., had 3 bedrooms, 2 baths, and was built in 1996
• 76% of the homes purchased were single family detached homes

Florida home search process:

• The typical Florida homebuyer searched for 10 weeks and viewed 10 homes
• Real estate agents were viewed as a useful information source for 97% of those who used an agent while searching for a home
• 87% were satisfied with the home buying process

Primary reason for home purchase (Top 5):

• 23% - Desire to own a home
• 12% - Retirement
• 8%   - Job related relocation
• 8%   - Desire for larger home
• 8%   - Desire for smaller home

Home sellers and the selling experience:

• The typical Florida sellers lived in their home for nine years
• Sellers typically sold their homes for 96% of list price
• 52% of sellers reduced the list price of their home at least once
• 32% of sellers offered incentives--most often assistance with home warranty policies and closing costs