Tuesday, March 13, 2007

Condo Buyers: The Stats

CondoDomain.com did a 2 month study on internet condo buyers in 33 markets in the US and Canada and found:

46% are young professionals, 20% are first time home buyers
78% are looking for a home for themselves (primary residence), 12% are looking for a second home
45% want to buy in a high rise building, 27% want to purchase in a low rise building
73% want to pay under $450,000, although 1% is willing to pay over $3,000,000 for their home

It seems that the luxury buyers were unwilling to register for this survey, and may be under-counted.

It's not so different than I might have expected, but it's nice to look over the data and establish a marketing plan.

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