Who Bought in 2023? Seasoned Buyers

Short answer, almost all of the buyers in 2023 purchased a home from the funds of a previous sale in the past couple of years. All but 1 was a 2nd time home buyer and the majority were single people ready to start their new lives.

2023 was interesting because though the market was moving at a slower pace, buyers still needed to bring their A game when writing offers. Even if negotiating a better price was necessary, it was still important to have strong representation, a great lender, and terms that would offset a lower price point. About 1/2 of these houses were on the market for a considerable amount of time. This gave my clients time to consider their options, negotiate terms, have an inspection, and be thoughtful about the process.

A few of them (#3, #4, #5) had multiple offers and buyers still needed to waive their inspection and financing. It was all over the board, but what was certain is that the houses in the $600-$700 price point that were presented were just as competitive as prior years.

Personally, I welcomed a year where things settled to a more manageable pace. I was able to take my time with the clients, show them plenty of homes, and help them imagine what their future could look like. I am so excited to see how things progress in 2024.