What types of homes are people buying?

7207 HALIFAX PL, Springfield VA, 22150
typical brick home in Springfield
The National Association of Realtors recently did a study to learn more about the types of homes that people are purchasing. By collecting data from home sales across the country they are able to give us a window into types of homes that people are buying. Some of their findings were very intriguing. What's the most typical home purchase in America? If you're not from Northern VA, you might not be surprised to learn that seventy-nine percent of home buyers purchased a detached single-family home. I would expect that in Northern Virginia we have more townhouse and condominium buyers than the national average. The typical home purchased was 1,870 square feet in size, was built in 1993, and had three bedrooms and two bathrooms. The average home purchase was a home that was 20 years old! Home buyers who bought previously owned homes purchased their home for a better price and overall value and the charm and character their home provides. Only a fraction of home buyers purchased brand new home. New home purchases represented only 16 percent of all recent home purchases. Why did folks buy new homes?
The Jamieson
Great views from this condo at the Jamieson are not found in a typical home.
New home purchasers bought a new home to avoid renovations or problems with plumbing or electrical, and the ability to customize their home. Do you fit the mold of an "typical home buyer"? For more information or to set up an appointment call Julie at (703)765-0300.
Buying, Julie Nesbitt, Residential, Selling

Julie Nesbitt

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Julie Nesbitt is an ABR who has served buyers in some of Alexandria’s most exclusive neighborhoods.  She is a top producing agent who has listed and sold property in Northern Virginia. In addition to helping folks buy, sell and rent property in Northern Virginia, Julie is the primary administrator of the property management services performed by Nesbitt Realty and Condo Alexandria. Call Julie at (703)765-0300.