According to ORAA's 2009 survey, 66% of buyers and 87% of sellers relied on the assistance of a real estate professional in the Orlando area. Here are some of the survey's findings:
Characteristics of Homebuyers: 47% of the recent home buyers were first time buyers, compared to the same percent nationwide. The typical first-fime home buyer was 31 years old, and the typical repeat buyer was 49 years old. The 2008 median household income of buyers was $73,600; this is only slightly higher than the median income of buyers nationwide, which was $73,100. The median income was $63,800 among first-time buyers and $89,900 among repeat buyers.
Characteristics of Homes Purchased: New-home purchases were at the lowest level in eight years nationwide- down to 18% of all recent home purchases. This is reflective in Orlando - 28% of homes were new. The typical home purchased was 1,910 sq. ft. in size and was built in 2001.
80% of homebuyers purchased a detached single-family home. The median price of homes purchased was $186,000 compared to $185,000 nationwide.
Home Search Process: 92% of homebuyers used the Internet to search for homes. Real estate agents were viewed as a very useful information source by 80% of buyers who used an agent while searching for a home. The typical homebuyer searched for 12 weeks and viewed 15 homes.
Importance of home's environmental friendly features in Orlando include heating and cooling costs as most important, energy efficient appliances, and energy efficient lighting.
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