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Old 06-16-2007, 12:15 PM
 
Location: Tennessee
4,739 posts, read 5,457,087 times
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Default Home sales turnover rate.

I'm curious, when I sold homes in Florida the average time a home owner stayed was 5 years. Does anyone have stats on what the turnover rate is in differant cities in Tennessee.
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Old 06-16-2007, 12:29 PM
 
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Real estate professionals need to answer this (I'm not!) but I believe there is a term called inventory absorption rate that measures this. It can be calculated using the number of homes on the market and number sold...perhaps other numbers...and can be done by price range. In our area (Tri-Cities) it is around six months for <$100K homes and ranges from 12-18 months for more expensive homes. Generally, homes are on the market months rather than weeks or days....an average of course.
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Old 06-16-2007, 12:33 PM
 
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Oops...misread your question. I thought you were referring to the time homes were on the market rather than the length of time a person lived in a home.
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Old 06-16-2007, 12:34 PM
 
Location: Tennessee
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Thats good information but what I mean is how long does the average person live in a home before he or she resells it.
Thanks KPT. Guess we were both typing at the same time
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Old 06-16-2007, 01:26 PM
 
Location: White Pine, TN
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Quote:
Originally Posted by Rcm58 View Post
Thats good information but what I mean is how long does the average person live in a home before he or she resells it.
Thanks KPT. Guess we were both typing at the same time
I've heard but never actually researched it that it's about 5 years in ETN. Most of the time that is younger people or people who have moved in here. Older people usually stay in one place. Many local people who lived in the coutry that stayed usually build on their parents land and don't move.
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Old 06-17-2007, 10:04 AM
 
Location: Tennessee
4,739 posts, read 5,457,087 times
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Quote:
Originally Posted by hilly7 View Post
I've heard but never actually researched it that it's about 5 years in ETN. Most of the time that is younger people or people who have moved in here. Older people usually stay in one place. Many local people who lived in the coutry that stayed usually build on their parents land and don't move.
Thanks for the info, very interesting and I'll admit I never would have thought that homes traded hands that often. like you said the older people generally stay put. well my kids are draging me off for fathers day, hope you have a great day and thanks again!
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Old 06-19-2007, 08:48 AM
 
Location: Beautiful East TN!!
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I have not researched it either, but from what I see, it is about 7-10 years is the average. I am not sure where those numbers come from however as in this area many folks stay put for many years. This is not the area for "flippers" that is for sure.
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Old 06-19-2007, 08:56 AM
 
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I'd agree with the 5 year average because I see it out here in CA. What's ironic is that we've been renting the same house for 4.5 years. The landlord likes us and hasn't raised the rent either. We currently pay about 1/3 or more less than what it would take to buy the same home. At this point, we've stayed in the rental home for longer than some of the neighbors who bought. There's one home down the street from us that was sold in 2005, and is now for sale. They were in the home for about a year and a half. Sometimes I wonder why 'owning' a home is so important to people if they don't even stay in them long enough to gain any kind of financial advantage.
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Old 06-22-2007, 09:29 PM
 
Location: Knoxville, Tn.
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I am a Realtor in knoxville, and the statistics show that a home owner usually first time home buyer between the ages of 20-30 usually sell between 3-5 years of being in their home. Ones that have upgraded to a larger home or elders normally stay in their homes a lot longer unless a life sacrafice makes them move or they want to down grade after kids move out. I too bought my home a 1 1/2 ago and we will be selling next year. Are house is now only 8 years old and has changed 4 owners, 5 when we sell.
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Old 11-06-2009, 07:12 AM
 
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11.9 years on average for turnover rate
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