Today’s home seller is notably different than the seller of 10 years ago. The recession not only changed the housing market, but it also changed the way home sellers approach the sale of their home. The Steamboat Sotheby’s International Realty Seller Survey looks at approximately 1,500 home sellers and analyzes trends from before and through the recession, as well as the initial recovery years and today:
- 2014-2015 – Recent Years (Sellers Today)
- 2010-2013 – Initial Recovery Years
- 2008-2009 – Recession
- 2006-2007 – Pre-Recession
- 2005 and Earlier
putting it on the market.
Compared to the initial recovery years, more of today’s sellers are receiving multiple offers.
The percentage of home sellers receiving offers above their asking price dipped during the recession, but has now bounced back to pre-recession levels.
During the recession and initial recovery years, significantly more sellers took the first offer on their home than are doing so today.
Today’s sellers are nearly twice as likely to choose an offer based on emotion rather than money alone, compared to pre-recession years.
This survey was conducted online within the United States between April 27-29 & April 28-30, 2015 among 4,023 adults (aged 18 and over) among whom 1,545 are selling/ever sold a home by Harris Poll on behalf of the Steamboat Sotheby’s International Realty brand via its Quick Query omnibus product. Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was used to adjust for respondents’ propensity to be online.
All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, the words “margin of error” are avoided as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.
Respondents for this survey were selected from among those who have agreed to participate in our surveys. The data has been weighted to reflect the composition of the adult population. Because the sample is based on those who agreed to participate in our panel, no estimates of theoretical sampling error can be calculated.