A few weeks ago, I shared insights from the National Association of Realtors’ (NAR) annual Profile of Home Buyers and Sellers, focusing on the challenges first-time homebuyers face. This week, I’m turning the spotlight to home sellers, whose motivations and experiences reflect broader trends in the 2024 housing market.
The typical seller this year was 63 years old, the highest median age recorded by NAR. Many sellers cited the desire to move closer to friends and family as the primary reason for selling, while others wanted a home better suited to their needs—whether to upsize, downsize, or adapt to changes in their neighborhoods. On average, sellers had lived in their homes for 10 years, maintaining last year’s trend but significantly longer than the six-year median seen in the early 2000s.
Despite market challenges, sellers saw notable success in 2024. Homes sold at a median price equal to 100% of their final listing price—a record high. However, properties spent slightly longer on the market, with a median of three weeks compared to two weeks last year. These figures demonstrate both the resilience of sellers and the strong demand from buyers, even amid fluctuating conditions.
While the national housing market faced headwinds earlier this year, recent data shows signs of recovery. According to NAR Chief Economist Lawrence Yun, October brought improvements in home sales across all four major U.S. regions, and growing inventory levels suggest increased activity in 2025.
Locally, Greater Nashville remains a bright spot for sellers. Our robust economy, with job growth outpacing national averages, continues to attract buyers to the region. Additionally, rising housing inventory provides sellers with more opportunities while giving buyers greater choice—creating a balanced and dynamic market for both sides.
Navigating today’s complex market requires expertise, and sellers overwhelmingly rely on Realtors for guidance. In 2024, 90% of sellers worked with a real estate professional, up from 89% last year, while FSBO transactions fell to an all-time low of just 6%. Realtors provide the tools and knowledge to price homes effectively, market them widely, and negotiate the best possible deals, ensuring sellers achieve their goals with confidence.
As we approach the new year, sellers have plenty of reasons to feel optimistic. By understanding the latest market trends and partnering with a trusted Realtor, they can tackle the challenges of 2025 and beyond with clarity and success.
