OREA’s 2021 Home Buyers and Sellers Report

by | Jun 25, 2021 | Blog

OREA asked Ontario’s home buyers and sellers your most pressing questions, and the results are in!

Available today for download, OREA’s 2021 Home Buyers and Sellers Report provides insights into buyer and seller intentions, what they’re looking for in a home, their thoughts and experiences with Ontario REALTORS®, and how the COVID-19 pandemic has – or hasn’t – affected their buying and selling plans. Some of the results may surprise you.

SOME REPORT HIGHLIGHTS

Insights into what home buyers and sellers say about the market:

• On average, buyers anticipate being able to contribute 35% of the purchase price of the home as a down payment. Even among first-time homebuyers, the average down payment is 23%.

• On average, homeowners expect to sell for $53,000 more than what buyers expect to pay for their next home.

Why buyers and sellers use a REALTOR® and why they don’t:

• Most sellers (88%) say they will use a REALTOR® to help them sell their home, but only half say they are using the same REALTOR® as last time. Among older sellers, only 37% say they are using the same agent they used on the sale of their last home.

• Older buyers say they are more likely to choose a REALTOR® based on trustworthiness and market knowledge, while younger buyers place more value on negotiating skills and experience.

• About a third of both buyers (31%) and sellers (33%) who say they will not use a REALTOR® cite ‘saving money’ as a reason for not working with a real estate professional, and more!

OREA’s 2021 Home Buyers and Sellers Report has 300+ data points on real estate consumers you won’t find anywhere else and it’s available exclusively to OREA Members on our website.

Click the here to download the full report.

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Do you have questions or need information about our local real estate market? Send us note. Will be happy to get you the answers you're looking for.