You may be surprised at who is the typical Ann Arbor homebuyer

Here’s a glimpse of the typical homebuyer, by the numbers:

• Age: 39.
• Household income: $74,000 (median).
• Search: Takes eight weeks, sees 10 homes.
• Location: Half of buyers want something within 13 miles of where they currently live.
• Buys: 1,810-square-foot, single-family home.
• Pays: $215,000 (median).
• Down payment: 9 percent (median).

Bargaining power:

• 36 percent pay asking price or more.
• 37 percent pay 95 percent to 99 percent of asking price.
• 28 percent pay 94 percent or less of asking price. 

Family situation:

• Married couples: 62 percent.
• Single women: 20 percent.
• Single men: 9 percent.
• Unmarried couples: 7 percent.
• Other: 2 percent. 

Race:

• Caucasian: 83 percent.
• African-American: 7 percent.
• Hispanic/Latino: 6 percent.
• Asian/Pacific Islander: 5 percent.
• Other: 2 percent

Numbers have been rounded to the nearest percent.
Race totals more than 100 percent because some individuals fit into more than one category.  

For more information, Click here to read the entire article written by Dana Dratch

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