Keeping up with Chicago's North Shore Real Estate Market!

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Thursday, March 16, 2017

Rocking the ages... redeux

Three years ago, I wrote a series on my blog called Rocking the Ages. In it I shared some thoughts about marketing ones' home to different generational cohorts.

Since that time, the National Association of Realtors has continued to publish its Home Buyer and Seller Generational Trends. Their 2017 edition recently came out.  

Who are the buyers?

The majority of buyers today (62%) are under the age of 51.  

Of the Millennials:
66% are married couples
13% are unmarried couples

The Gen Xer's have the highest median priced homes of all other buyers and buy the largest homes in median square footage and bedrooms. They are looking for convenience to job, the quality and convenience of school districts.   

These two generational cohorts are the ones to whom we will be selling our wonderful North Shore homes over the next few years.   It pays to understand these folks.  

If you're thinking about selling this year -- take a look at my series about preparing your house for these generations -- particularly the 62%!   

This NAR report is fascinating in its detail.   You might want to look at it in its entirety!

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