by Buz Wolfe

A number of years ago, I earned an industry designation called CRS (Certified Residential Specialist). At the time, only between 2-4% of all licensed real estate practitioners in the Country held the designation. I believe that that percentage is now in the 10-12% range, but this group still generally represents among the most successful residential Brokers and agents in the business.

The Council publishes a monthly magazine which I always read. While I am not a big statistics guy, the following are some statistical factoids that you might find interesting:

• Traditional 2 story homes are spending about 84 Days on Market.
• Ranch homes are spending about 95 Days on Market.
• Homes near schools spend 76 Days on the Market.
• Hottest size was a modest 1500-2000 square feet.
• Fastest selling price point is the “not quite starter price” of $200,000-$250,000
• Stainless steel, granite counter tops, and open kitchens tend to sell homes more quickly.
• First time buyers are now making up roughly 1/3 of the housing market.
• 81% of them prefer an updated kitchen and bath.
• Median age of a first time buyer is 31 while the median age of a repeat buyer is 53.
• 80% of all real estate deals are conditioned on a home inspection.
• For every $1,000 of perceived defect, the buyer will seek a $3,000-$5,000 reduction in price!

Keep in mind that these are national statistics, but they very closely mirror our local “micro market” here in Carlisle. Pennsylvania, by the way, is 5th for the number of owner occupied units by state – – trailing California, Texas, Florida and New York according to the Pennsylvania Association of Realtors. These home owners experience significant housing wealth from their owner occupied properties.

Have real estate questions? Feel free to contact me or any of the very capable members of our staff here at Wolfe & Company Realtors. EXPERIENCE MATTERS!

*Ray L. “Buz” Wolfe, CRS has been Broker/Owner of his own firm since 1986. In 2015, he was again the Carlisle Area’s Top Producing Independent Broker.
**All information believed to be accurate but not guaranteed.