Home Seller Stats

According to the National Association of Realtors 2023 Profile of Home Buyers & Sellers:

The typical home seller was 60 years old, which is unchanged from last year’s report.
Sixty-three percent of sellers reported moving within the same state and moved a median of 35 miles. This is a notable change from the 2022 report when 24% moved within the state, and sellers moved a median of 90 miles.
For all sellers, the most commonly cited reason for selling their home was the desire to move closer to friends and family (23%), because the home is too small (13%), or a change in the family situation such as a marriage, divorce, or new child (10%).
Sellers typically lived in their home for 10 years before selling. Among seven of the last 10 years, the typical tenure has been 10 years. The most recent one-year dip was in 2021.
Thirty-nine percent of sellers traded up to a larger home and 33% purchased a smaller home.
Forty-eight percent of sellers did minor renovations before selling, 41% sold the home as-is, and 12% carried out major renovations.
Eighty-nine percent of home sellers worked with a real estate agent to sell their home, seven percent sold via FSBO, and less than one percent sold via iBuyer.
For recently sold homes, the final sales price was a median of 100% of the final listing price, maintaining last year’s highest recorded since 2002.
Recently sold homes were on the market for a median of two weeks, which is unchanged from last year.
Ninety-two percent of sellers were at least somewhat satisfied with the selling process.

Sixty-five percent of sellers found their agent through a referral from a friend, neighbor, or relative or used an agent they had worked with before to buy or sell a home.
Eighty-one percent of recent sellers contacted only one agent before finding the right agent they worked with to sell their home.
Forty-six percent of sellers used the same agent to purchase a home, as sell their home. A share which rises to 84% for sellers who purchased a new home within 10 miles.
Eighty-five percent of sellers used an agent who provided a broad range of services and management of most aspects of the home sale.
Eighty-seven percent said that they would definitely (73%) or probably (14%) recommend their agent for future services.

Seven percent of recent home sales were FSBO sales this year. This is an all-time low and matches the share seen in the 2021 report.
The majority of FSBO sellers, 57%, knew the buyer of the home.
Within rural areas, 14% sold via FSBO compared to three percent of sellers in urban areas.
FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $310,000 last year, significantly lower than the median of agent-assisted homes at $405,000.