11 Real Estate Facts in 2020: Level up Your Real Estate Knowledge With These Stats and Facts
By: Roomvu Academy
Tags: Real Estate, Realtor, Real Estate Fun Facts, Facts, Real Estate Facts

11 Real Estate Facts in 2020: Level up Your Real Estate Knowledge With These Stats and Facts roomvu Academy Dec 1, 2020·4 min read

Most recent real estate facts and stats that will entertain you, teach you or educate you to have a better understanding of your business

Real estate is full stats that can be both entertaining and informative. Agents can use these figures and numbers to study the market and plan for it while others can have a look and stay informed generally. We are providing a list of real estate facts for 2020 that offer insightful and informative figures and numbers. From the number of homes sold in US to the most expensive home ever sold, this list will keep you reading till the end.

The Year with The Highest Number of Homes Sold

According to Statista between 2011 and 2020, in 2017 there were 6.12 million homes sold in the U.S. That’s the highest number in the span of recent 9 years. In 2011 the lowest number of homes were sold reaching only 4.57 homes sold in the U.S.

The Most Expensive Home Sold in the US

Almost all of the most expensive homes sold in the US are located in either Florida, New York, or California. The most expensive home sold in the US so far is a penthouse on top of 220 Central Park South that spans the 50th through the 53rd floor of this residential tower in Manhattan, New York. It was sold in January 2019 for $239,958,219 to Ken Griffin, the American billionaire hedge fund manager, entrepreneur, and investor.

Most Homes Sold by An Agent

Guinness World Record book has every kind of weird and strange record. Most of the records in this book are jaw-dropping and the record set for real estate is no exception. America’s №1-ranked real estate agent, Ben Caballero of HomesUSA.com in Dallas, Texas has set the record for selling 5,801 homes in 2018. That’s close to 16 homes sold in a day. Caballero broke his own industry-first Guinness World Record title for 4,799 verified home sales in a single year in 2017.

Buying Your First Home

Data from the National Association of Realtors report suggests that the median age of first-time homebuyers has increased to 33, the oldest in records since 1981. Although during this period of time, the average age for first-time homebuyers fluctuated between 29 to 31, this new 33-year-old record seems to indicate the pattern is changing.

However, millennials still make up the largest group of home buyers at the present time. Older generations are more interested in selling. This shows why real estate agents need to focus on digital marketing for their business, millennials are generally pretty tech-savvy. They also tend to do research online before buying products and services which shows the importance of positive online reviews and testimonials for real estate agents.

Single Women Own More Homes Than Single Men

According to an analysis by LendingTree published on January 20th, 2020 single women own more homes than single men. This is despite the fact that they make 79 cents for every dollar men make (5.1 million homes vs 3.5 million homes). However, the price single women pay is on average 2% more than what single men pay. The same pattern is repeated when it comes to selling homes where single women sell their homes for an average of 2% less than what men sell for. The reason behind this seems to be that men tend to take greater risks when it comes to buying homes which can lead to higher overall returns.

Homes Time on Market

According to another study by NAR, it takes around 24 days for a home to go from listing to a contract in Jun 2020. This compared to 27 days in 2019. This number average can be used for your listing to see how it’s doing on market. If it is taking too long then there must be something wrong, either with the price or how you or your agent is presenting it to the market. However, this number is just an average number and there are always extremes where homes take longer to sell, or sell within 24 hours.

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