Only The Top 5% Of Home Buyers In Our Market Pay Over $550,000
Scott P. Rogers
If you are selling a home over $550,000 -- you are only appealing to about 5% of the buying public as per the price distribution of the 1,654 home sales that were recorded in the HRAR MLS in Harrisonburg and Rockingham County over the past year.
Looking to sell something over $460,000? That will appeal to about 10% of the buying public.
You can slice and dice the data above however you'd like...
- Only 5% of buyers are spending less than $146,000.
- 75% of buyers spend more than $207K.
- Half of buyers only spend $265,500
- Not pictured above, but the top 1% is $800K+
I think you get the point. :-)
If you have ever wondered where your home falls into the overall distribution of home sales prices in this area -- now you know!
Thanks, Tom, for the question that lead to this analysis! :-)
