A Knowledgeable Seller Is A Happy Seller

In any business, a seller benefits the most when they know their potential buyer and the market. Being informed, gives sellers an edge in being able to communicate the best value, differentiate their offerings and show customers a clear route to buying. The Chicago market has a pull of differentiation but numbers tell us we have a specific buyer in 2019. Looking over the numbers for 2018, we can see characteristics about buyers to help sellers understand where the market is pulling the most. When you know the numbers, sellers and buyers win. Sellers can see where the best pull is and decide if their home is right for the current market. Resulting in buyers being targeted in the right ways so they can find the home of their dreams faster.

For the Chicago / Naperville / Elgin market, the homebuyer is an average of 39 years old with an income of $86,334. In 2018, the average homebuyer was between 25-34 years old. Showing in 2019, homebuyers may be waiting a little longer before making a purchase, and possibly are just too comfortable renting. We can dive into that a little later.

In 2019, 89.3% of our buyers are moving within the same state, and 53.2% of them are married. Tying this number into the average home buyer being 39 years old, it is possible the motivation of these buyers is to grow their families as opposed to moving because of a job relocation.

What the numbers tell us also is the 78.8% of buyers financed their home purchase. This is a great number to know because as a broker, it tells me to be prepared to know everything about the process of financing a home. Brokers are supposed to make the home buying experience as easy as possible for their clients, so the transaction keeps moving and you have a quick close. When you hire your agent / broker, be sure to ask them about their knowledge on this topic and how they help assist you through the process for a quick close.