60+ Must-Read Real Estate Statistics for 2019

Izabelle Hundrev
Izabelle Hundrev  |  June 6, 2019

The business of real estate is always changing.

There are a lot of moving parts that influence the real estate industry. Whether you’re a buyer, seller, renter, or agent, fluctuations in the market can have a big impact on your business or lifestyle.

Below, we’ve compiled 40 statistics to give some insight into the world of real estate as it is right now in 2019. Looking for statistics related to a certain sector of real estate? Feel free to jump ahead using the links below:

Residential real estate statistics
Homebuyer statistics
Selling statistics
Rental statistics
Real estate demographic statistics
Real estate financing statistics
Real estate marketing statistics
Real estate agent statistics
Commercial real estate statistics

Real estate statistics in 2019

Between all of the different real estate terms, types of real estate, and people that make up each sector, the industry is pretty complicated. To keep things as simple as possible, we’ve divided up the following stats into relevant sections.

Residential real estate statistics

Residential is what most people think of when they hear the term real estate. It refers to the types of properties that people live on – those that are not intended to be used for anything business-related. This includes single and multi-family homes, as well as condos and townhouses.

  • As of April 2019, there have been roughly 673,000 houses sold in the US this year, which is 12.4 percent more than last year (U.S. Census Bureau, 2019).
  • 5.34 million existing homes were sold in 2018 (down from 5.51 million in 2017). (NAR, 2018)
  • The Midwest has the highest rates of homeownership in the nation at 68.2%, followed by the South at 66.2 percent (U.S. Census Bureau, 2019).
  • 64.8% of U.S. citizens were homeowners in the fourth quarter of 2018 (up from 64.2% in 2017). (United States Census Bureau, 2019)
  • 35.4%of homeowners are under 35 years of age. The age bracket with the highest rate of home ownership (78.5%) is 65 years and over (U.S. Census Bureau, 2019).
  • Madison, WI and Grand Rapids, MI are the two most popular cities for millennial movers (National Association of Realtors, 2019).
  • Based on buyer activity and active inventory, the hottest real estate markets in the country are in Boston, MA and Lafayette, IN (Realtor.com, 2019).
  • Nationwide, the average sale price of a luxury home fell 1.6% in 2019 (Redfin, 2019).
  • Across the US, the median price of a home is $267,300 (National Association of Realtors, 2019).
  • Fishers, IN and Carmel, IN top the list of best cities for families (Apartment List, 2019).
  • 36% of homeowners listed unexpected maintenance or repairs as their biggest regret (Zillow, 2019).
  • The least competitive housing markets in the country are Miami, Dallas, and Houston (Redfin, 2019).
  • The real estate industry will account for 22% of total commercial drone use by 2020 (Federal Aviation Administration, 2016).

real estate drone statistic

Homebuyer statistics

Buying a home is no small feat. Below, you’ll find a few statistics specific to homebuyers.

Selling statistics

Selling a home can be just as big of a hurdle as buying one. From getting a property listed to setting up the open house, finding qualified buyers is a feat in and of itself.

  • Thursday is the best day to list a home. Properties listed on Thursday sell for $3,015 more than on Mondays, which are the worst days to list a home (Redfin, 2019).
  • On average, 98% of final sale prices matched the original asking price of a property in 2019 (Redfin, 2019).
  • This year, the median number of days that a property was on the market before an offer was accepted is 40 (Redfin, 2019).
  • 73%of sellers are more likely to list their home with an agent who leverages video to market their property (National Association of Realtors, 2018).
  • Staged homes sell 25% faster than non-staged homes (Coldwell Banker, 2019).

real estate statistic about staged homes

Rental statistics

Not everyone can afford to buy a home – that’s where renting comes in. Many residential properties are offered as rental units to tenants for non-commercial purposes.

  • Globally, the most expensive place to rent is San Francisco where the rent averages out at $3,690 (Zumper, 2019).
  • In 2019, Henderson, NV and Phoenix, AZ saw the fastest rent growth in the country with an increase of 4.5 and 4.1 percent, respectively (Apartment List, 2019).
  • Across the US, the cost of renting has gone up 66 percent (Realtor.com, 2019).
  • Troy, MI is ranked as the most affordable renting city for families (Apartment List, 2019).
  • Only 8 percent of homeowners regret purchasing a home instead of renting (Zillow, 2019).

Real estate demographic statistics

It may seem like millennials are abandoning home buying in favor of renting, but these stats prove that that may not be the case. 

millennial home buyer statistic

Real estate financing statistics

As student loans continue to ensnare the population into a collective $1.7 trillion debt, real estate financing has been impacted.

Notably, home values are increasing while millions of Americans are spending more than 50% of their earnings on their home purchase.

Real estate marketing statistics

Real estate agents understand the benefits of a good marketing plan. In 2019, the majority of agents are using their budget toward marketing efforts such as content creation and real estate marketing software.

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real estate marketing statistic

Real estate agent statistics

A real estate agent or broker is a professional that is licensed to sell property in their state. The business of buying and selling properties can be incredibly lucrative but doesn’t come without its difficulties.

  • 49% of agents report working 40 or more hours per week, while 22% report working less than 30 hours (Placester, 2019).
  • The largest expense for working real estate agents is transportation at around $1,370 per year (National Association of Realtors, 2019).
  • Agents earned 17%of their business from referrals, and only 13% from returning clients (National Association of Realtors, 2019).
  • 62% of agents spend at least one hour a day on marketing (Placester, 2019).

Commercial real estate statistics

Commercial real estate refers to non-residential property that serves to generate income. This includes shopping malls, hotels, and office spaces.

  • In 2019, the average commercial real estate sale was $1.2 million (National Association of Realtors, 2019).
  • The total dollar volume of commercial sales in the US has decreased since 2018. In the large market (sales greater than $2.5M), sales decreased by 11%. In the small market (sales less than $2.5M), the decrease was closer to 8 percent (National Association of Realtors, 2019).
  • Toledo, OH and Syracuse, NY have the highest rental vacancy rates in the country at 18.1% and 17.9%, respectively (National Association of Realtors, 2019).
  • Based on annual rent, 5th Avenue in New York City has the most expensive retail rates in the world (Statista, 2019).
  • With an average cost of $255.50 per square foot, Hong Kong is the most expensive city in the world for renting office space (Statista, 2019).

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The future of real estate

We can’t predict the future – especially not in the world of real estate. As buyer preferences evolve, trends in the market will come and go. One thing is for sure, the need for property isn’t going away anytime soon. Whether it’s an individual, family or a business, it’s likely that everyone will brush shoulders with the real estate industry at some point.

Izabelle Hundrev
Author

Izabelle Hundrev

Izabelle is a Content Marketing Associate who joined G2 Crowd in April 2018. After earning a degree in Journalism from the University of Missouri, Izabelle moved back to her hometown of Chicago in pursuit of a career and deep dish pizza. Outside of work, she is passionate about all things pop culture, food, and travel.