Boston Condos for Sale and Apartments for Rent
2022 Boston condo buyer profile
In the rapidly changing residential real estate industry, success hinges on mastering the local market. But as brokers focus their attention on providing the greatest insight for their clients, staying tuned in to what’s happening in the industry itself can be an even greater challenge. That’s why we publish Truth About Agents every year.
This is where we put the industry under the microscope and contextualize reader responses. Truth About Agents goes beyond the stats to provide an opportunity for agents, managing brokers and lenders to offer their opinions on various aspects of the industry.
The results presented here are reported from Boston Agent’s 2022 reader survey, filled out by readers of the magazine in March 2022. For further information or survey results, contact us at info@agentpublishing.com.
Click Here to view: Google Ford Realty Inc Reviews
Ford Realty 137 Charles Street, Boston MA 02114
If you are a “baby boomer” (born between 1946 and 1964), you may be thinking about selling your current home. Your children may have finally moved out. Your large, four-bedroom house with three bathrooms no longer fits the bill. Taxes are too high. Utilities are too expensive. Cleaning and repair are too difficult. You may be ready to move into a home that better fits your current lifestyle. Many fellow boomers have already made the move you may be considering.
The National Association of Realtors
The National Association of Realtors recently released their 2019 Home Buyer and Seller Generational Report. The report revealed many interesting tidbits about both categories of baby boomers: younger boomers (ages 54 to 63) and older boomers (64 to72). Here are a few of the more interesting topics.
Percentage of Buyers who Looked Online First
All Buyers: 44%
Younger Boomers: 46%
Older Boomers: 44%
Where Boomers Found the Home They Purchased
The two major ways buyers found the home they purchased:
All buyers: 50% on the internet, 28% through a real estate agent
Younger Boomers: 46% on the internet, 33% through a real estate agent
Older Boomers: 36% on the internet, 35% through a real estate agent
Distance Seller Moved
The distance between the home they purchased and the home they recently sold was much greater for boomers than the average seller.
All sellers: 20 miles
Younger Boomers: 27 miles
Older Boomers: 50 miles
Tenure in Previous Home of Seller
The percentage of older boomers who lived in their previous home for more than 20 years was almost twice the amount of the average seller.
All sellers: 16%
Younger Boomers: 20%
Older Boomers: 31%
Primary Reason to Sell their Previous Home
Want to move closer to friends or family
Home too large
Retirement
View of Homeownership as a Financial Investment
83% of Younger Boomers see homeownership as a good investment
82% of Older Boomers see homeownership as a good investment
Bottom Line
If you are a boomer and thinking about selling, now might be the time to contact an agent to help determine your options.
