The Millennial generation is today’s largest demographic buying homes across the nation. Aged 18-35, these are folks with high-tech jobs who love community-living in urban villages and sustainable practices. Millennials love to live, work, and play within a diverse environment. And many of this generation are also now having kids of their own, raising families and looking towards more suburban areas to live, including York County, PA. If you’re planning to sell your home, focus on attracting potential Millennial home buyers could bring great results.
The National Association of Realtors® has released its latest edition of the Home Buying and Selling Generational Trends Report, providing some great insight into what each generation is looking for within a home. Millennials make up 36% of the current home buying population, more than any other age group. There’s also a good chance that Millennials will be looking at previously-owned homes as opposed to new construction, with just 11% of those surveyed aged 37 years or younger having bought new construction.
You may wonder why this would be for a younger generation so digitally connected. Other research highlighted in the NAR report shows that Millennials, especially those with families, are looking not only for a home that will meet their lifestyle needs, but also a neighborhood. According to the Generational report, 52% of the buyers within this age group are turning towards the suburbs. They are seeking areas where there’s been a resurgence of community resources and services retained within easily accessible and sustainable locations.
Current home owners who’ve updated their property for better energy efficiency which are located in established neighborhoods near a thriving town with commute options into a major metro region are being sought after by Millennials. This puts York County home sellers in a great position to attract potential home buyers in this age group.
As a home seller, understanding the local market is important to help you price your home right and sell it well. When you’re ready to sell or buy a home, you want to work with a Realtor® who understands the market and the community; someone who can put their expertise to work for you. The Jim Powers Team of local experienced Realtors® is here to help you. Visit our website to learn more, then contact us or give us a call at 717- 417- 4111.