The home buying process may seem like all business, but it’s full of fascinating trends, fun facts, and real statistics that reveal just how unique the journey can be. Whether you're thinking about buying soon or just love real estate trivia, these numbers might just surprise you.

📊 1. 86% of Buyers Used a Real Estate Agent in 2024

Working with a licensed real estate professional isn’t just helpful—it’s the standard. In fact, more than 8 in 10 homebuyers chose to partner with an agent last year, according to the National Association of Realtors.

Why? Because agents bring local knowledge, negotiation expertise, and insight into hidden pitfalls that online listings can’t show. From navigating inspections to crafting competitive offers, agents make the entire process smoother and more successful.

💡 Buyers who worked with agents reported higher satisfaction and were more likely to feel confident in their purchase decision.

🕵️ 2. Buyers Looked at an Average of 7 Homes in 2024

It might sound low compared to the past, but it makes sense. With high-quality virtual tours, video walkthroughs, and filters galore, buyers are narrowing their options before they ever set foot in a house.

Instead of touring 15–20 properties, many buyers now research online, drive by neighborhoods, and eliminate homes that don’t fit their lifestyle or commute preferences. That means when they tour in person, they’re already close to making a decision.

🏃‍♀️ In fast-moving markets, some buyers made offers after just 1–3 in-person tours!

⏳ 3. The Average Home Search Took 10 Weeks

From initial browsing to offer acceptance, most buyers spent about 2.5 months house hunting. While it sounds short, many buyers are preparing long before that—checking their credit, getting pre-approved, and following listings for weeks or months in advance.

Still, it’s a reminder that the process moves fast, especially in Tennessee where many homes are off the market in under two weeks. If you're thinking of buying, it’s smart to start early and move quickly when the right home pops up.

📆 Tip: The best time to start your search? About 4–6 months before your ideal move-in date.

💰 4. 35% of Buyers Made an Offer Over Asking Price

Last year’s competitive market led to intense bidding wars in many regions—including here in Tennessee. Over one-third of buyers offered above asking price, often waiving contingencies or including personal letters to stand out.

In hot neighborhoods, homes with desirable features (updated kitchens, fenced yards, or good school zones) frequently received multiple offers within the first weekend. Working with a savvy agent can help you strategize, not overspend, and still win.

🔥 Fun Stat: In some Knoxville suburbs, homes sold for up to 8–10% above list price on average!

📱 5. 96% of Buyers Used the Internet in Their Home Search

That’s right—nearly everyone turns to online platforms to start the home search. Whether it's scrolling through Homes.com, checking social media, or getting daily email alerts, buyers today are highly tech-driven.

Smart agents are leveraging this too—using drone photography, video tours, and Instagram Reels to get eyes on listings fast. If you're selling, your online presence matters more than ever.

🖥️ Pro Tip: Make sure your listing has bright photos, a clear floor plan, and easy-to-read descriptions. First impressions are digital now!

🧑‍🤝‍🧑 6. First-Time Buyers Made Up 32% of the Market

Almost one-third of 2024’s homebuyers were first-timers, and many were Millennials or older Gen Z. With flexible work-from-home policies and growing families, more younger buyers are prioritizing space, community, and long-term investment.

This group is financially savvy—often using online calculators, rate trackers, and budget tools to prepare before they even talk to a lender. They’re also more open to alternative neighborhoods and fixer-uppers if it means long-term equity.

🧠 Insight: First-time buyers often need more guidance, so education and transparency go a long way.

🏦 7. The Average Down Payment Was 14%

Contrary to popular belief, you don’t need 20% down to buy a home. In 2024, the average down payment was 14%, and for first-time buyers, it was even lower—around 8%.

There are dozens of loan programs offering down payment assistance, especially for veterans, rural homebuyers, and lower-income households. Don’t let myths about needing huge savings keep you from your homeownership goals!

💸 Reminder: A lower down payment doesn’t always mean a higher monthly cost—let’s compare your options.

Final Thoughts

Real estate isn’t just about square footage and sales price—it’s about stories, statistics, and strategies that can empower your journey. Whether you're gearing up to buy or just love geeking out over real estate facts, knowing these numbers can give you a serious edge.

📣 Which Home Buying Stat Surprised You the Most?

Leave a comment or message us—we love helping buyers feel informed and ready. Let’s talk about what these numbers mean for your next move!

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Partners Realty Group
📞 (865) 789 – 6677
"Turning real estate stats into real-life success."

Curious where you stand in today’s market? Let’s break down the numbers—together.