Location, Location…Price? Coldwell Banker Survey Rewrites Real Estate’s Oldest Advice
Linda Swanson - Coldwell Banker Realty
For more information about the author, click to view their website: Coldwell Banker
Dec 13, 2024
Florida - Sarasota, Bradenton & Charlotte Counties
Email US
Click to Email Us
Price (56%) is more important than location (50%) to surveyed consumers when choosing a home, according to the latest nationwide survey from Coldwell Banker Real Estate, an AnywhereSM (NYSE: HOUS) brand. It also finds that women value price more than men – 60% to 48%, respectively. This bucks the real estate industry’s oldest advice, setting new stakes for this year’s market.
The data further reveal that the dream of home ownership is still alive and well: Of consumers who purchased a home last year, 31% did so because they found their dream home. Additionally, of homeowners who plan to sell their homes in the future, 66% say they plan to move to either a different city, state or country.
“While many consumers made their dream home purchase last year, the data show that some desire to seek new horizons,” said Jason Waugh, president of Coldwell Banker Affiliates. “For those still looking for their dream home – no matter their price range, whether nearby or afar – I encourage them to contact a real estate agent for local advice and context. The Coldwell Banker brand equips its global network of affiliated agents with tools and technology, including the Move Meter®, where consumers can compare where they live to anywhere else.”
Additional key points emerge from the data, in terms of market sentiment, social media, ideal home preferences and financial dynamics, revealing the dreams and desires shaping the U.S. real estate landscape.
Market Sentiment
A majority of consumers surveyed (56%) believe that the real estate landscape will either improve or remain the same in 2024 compared to the previous year. Additionally, the data indicates:
- Consumers who plan to sell their home in the future would be more likely to move to a different city after they sell their home now (39%) than in 2022 (19%).
Keeping up with the Joneses
43% of consumers surveyed have been somewhat influenced or highly influenced by social media in their desire to purchase a particular type of home. Compare this to the findings from luxury consumers, with 73% of them saying the same. Other social insights include:
- Social media significantly influences home preferences for 64% of consumers aged 18-24, compared to a mere 16% of those aged 55 and above.
- Consumers surveyed who have been influence by social media in their desire to purchase a particular type of home aged 18-24 are most likely to have been influenced by TikTok (68%) in their decision to purchase the preference in the type of home they desire, while consumers aged 55 and above are most likely to have been influenced by Facebook (54%).
This suggests a substantial role that platforms like TikTok, Instagram or other social media channels play in shaping homebuyers’ desires. This signals the need for a strong online presence and strategy.
Ideal Home Preferences
Across the nation, respondents each have their own version of the ideal home location, design and size, with no one-size-fits-all formula arising from the data.
- Almost a third of respondents (32%) said their ideal home is located in the South, while a quarter said it’s in the Northeast (24%).
- Almost half (49%) of consumers surveyed said their dream home size is mid-sized: 3-4 bedrooms and 2-3 bathrooms.
- While Ranch comes out on top (13%) for dream home design style with Modern Contemporary (11%) right behind, more respondents said they preferred “no style in particular” (16%).
Financial Dynamics Shift
Parental contributions to their children’s home purchases differ among generational and racial groups.
- Over a quarter (26%) of surveyed consumers have not provided or do not plan to provide financial support for their child(ren)’s first home.
- Younger respondents (aged 25-34) are more likely (49%) to consider providing such support compared to those aged 55 and above (23%).
- Black Americans (46%) and American Indian or Alaska Natives surveyed (49%) exhibit a higher willingness to financially support their children’s home purchases.
- 58% of consumers agree with the statement ‘I consider my home as an asset that I would pass along to my child(ren).’
Navigating the Future
As the industry adapts to diverse dynamics, real estate professionals become even more vital guides. The Coldwell Banker® brand stands as a steadfast partner in this journey, ready to navigate the currents of the real estate market. In a landscape shaped by optimism, generational differences and evolving preferences, real estate agents emerge as the backbone, providing expertise and guidance. The future of American real estate is dynamic to say the least, and Coldwell Banker Real Estate remains a constant, ensuring that dreamers find their dream home in an ever-evolving market.
Methodology
Coldwell Banker collaborated with Censuswide to provide insights into real estate trends, market sentiment, property investment and luxury spending preferences. Research was conducted between November 27, 2023 and December 11, 2023, among 4,213 U.S. consumers aged 18 and older. 25% of respondents (1,053 in total) were luxury respondents classified as those aged 18+ with a household income of $1M+, or who have bought a home in the U.S. worth $1M+ or are planning to purchase a home in the near future worth $1M+. Censuswide abides by and employs members of the Market Research Society which is based on ESOMAR guidelines and principles.
Other Articles You May Like
Discover Compassionate Assisted Living at Merritt Island
Choosing an assisted living community is a major decisionfor both seniors and their families. At Merritt Island Assisted Living, we understand that this transition is about more than just a change of address. Its about finding a safe, nurturing environment where each resident can live with dignity, enjoy daily life, and receive the right level of support tailored to their individual needs.Our community is thoughtfully designed to provide personalized care, promote independence, and offer peace of mind through 24/7 assistanceall in a warm, welcoming atmosphere on Floridas beautiful Space Coast.What Is Assisted Living?Assisted living bridges the gap between independent living and full-time medical care. Its ideal for individuals who may need help with daily activitiessuch as bathing, dressing, medication management, and mobilitybut still want to maintain their independence and enjoy a vibrant lifestyle.At Merritt Island Assisted Living, we empower residents to live life on their own terms, while providing the compassionate support they need to thrive.Personalized Support, When Its Needed MostOur assisted living residents receive customized care plans that evolve with their needs. From minimal assistance to more comprehensive support, we adjust our services to ensure comfort, safety, and quality of life. Our professional team is available around the clock, offering help with: Daily living activities (ADLs) Medication management Transportation to appointments Housekeeping and laundry Wellness checks and ongoing assessments We work closely with families and healthcare providers to ensure continuity of care and open communication at every stage.A Lifestyle That Promotes Connection and Well-BeingAssisted living at Merritt Island isnt just about careits about living well. Our residents enjoy a dynamic community life with enriching programs, engaging activities, and social opportunities every day. Whether its participating in group fitness classes, attending social events, enjoying live entertainment, or simply spending time in the garden, our community is built to support the emotional, mental, and physical well-being of every resident.Community Features Include: Private and semi-private apartments Three nutritious, chef-prepared meals per day Beautiful indoor and outdoor common spaces On-site salon and spa services Fitness and wellness programs Calendar of daily social activities and events Scheduled outings and transportation Why Families Trust Merritt Island Assisted LivingFamilies choose Merritt Island because we combine expert care with heart. We treat every resident like familybuilding trust through communication, kindness, and consistent, compassionate service. From the care team to the kitchen staff, everyone shares a commitment to enhancing the lives of those we serve.Schedule a Visit Today If you or your loved one are considering assisted living, we invite you to experience the difference at Merritt Island Assisted Living. Schedule a tour, meet our team, and see firsthand how we help residents live comfortably, confidently, and with purpose.
Exceptional Services & Amenities at Merritt Island Assisted Living
At Merritt Island Assisted Living, residents enjoy more than just a comfortable place to livethey experience a vibrant lifestyle built around convenience, connection, and personalized support. Designed to enhance daily life while promoting independence and peace of mind, our community offers a wide array of services and amenities tailored to meet the unique needs of every resident.Comfort Meets CareFrom the moment you walk through our doors, you'll feel the difference that thoughtful design and attentive service make. Our assisted living community provides 24/7 professional support, ensuring that every resident receives compassionate care while maintaining dignity and independence. Services include: Assistance with daily activities like bathing, dressing, and grooming Medication management and health monitoring Housekeeping, laundry, and linen services Scheduled transportation for medical appointments and local outings With these daily essentials handled by our dedicated staff, residents can focus on enjoying life to the fullest.Lifestyle Amenities That Inspire JoyWe believe senior living should be as enriching as it is supportive. Thats why Merritt Island Assisted Living offers amenities that promote social engagement, mental stimulation, and physical wellness: Chef-prepared meals served three times daily in a comfortable, restaurant-style dining room Fitness and wellness programs designed to keep residents active and energized On-site beauty and barber services, so looking and feeling your best is always convenient Activity and game rooms for socializing, puzzles, cards, and more Spacious common areas for gatherings, celebrations, and relaxation Beautiful outdoor spaces, including courtyards and walking paths perfect for enjoying the Florida sunshine Engaging Activities and EventsMerritt Island Assisted Living encourages residents to remain engaged and connected. Our events calendar is filled with diverse offerings that cater to a variety of interests: Music and movie nights Arts and crafts sessions Educational talks and guest speakers Holiday and birthday celebrations Group outings to local attractions, restaurants, and cultural venues Every activity is designed to bring joy, foster friendships, and enhance the overall well-being of our residents.Safe, Accessible, and SupportiveSafety and accessibility are priorities throughout our community. Our living spaces are thoughtfully designed with seniors in mind, including grab bars, emergency call systems, and mobility-friendly layouts. Residents and families can enjoy peace of mind knowing that assistance is always close at hand.Why Choose Merritt Island Assisted Living?When you choose Merritt Island Assisted Living, youre choosing a lifestyle built around warmth, wellness, and worry-free living. Our community services and amenities are thoughtfully created to ensure residents feel at homewhile receiving the personalized support they need to thrive. Come see how our amenities make every day easier, more comfortable, and more fulfilling. Schedule a tour today and discover the lifestyle you or your loved one deserve.
Merritt Island Assisted Living: Compassionate Care in a Coastal Community
Located in the heart of Floridas scenic Space Coast, Merritt Island Assisted Living offers a warm, inviting community designed to provide exceptional care, comfort, and connection for seniors. Blending modern amenities with a personalized approach to wellness, this assisted living residence is a trusted choice for families seeking quality senior care in a peaceful, coastal setting.A Home-Like Setting with Professional SupportMerritt Island Assisted Living is more than just a place to liveits a place where seniors feel at home. With private and semi-private apartment options, thoughtfully designed common areas, and welcoming outdoor spaces, residents enjoy comfort, safety, and a sense of community.The highly trained staff offers 24/7 assistance with daily living activities such as bathing, dressing, grooming, medication management, and mobility supportalways delivered with respect and kindness. Residents maintain their independence while receiving the right level of care, tailored to their unique needs.Enriching Lifestyles for Every ResidentLife at Merritt Island Assisted Living is active, engaging, and fulfilling. Daily programs and social activities are carefully curated to promote mental, physical, and emotional well-being. Residents can participate in: Group fitness classes Games and trivia nights Arts and crafts Live music and entertainment Off-site outings and scenic drives Holiday celebrations and cultural events Whether it's enjoying a morning walk in the garden, attending a wellness seminar, or sharing stories over coffee, residents find plenty of opportunities to connect, grow, and have fun.Delicious Dining, Every DayNutrition is a key part of wellness, and the culinary team at Merritt Island Assisted Living takes pride in preparing meals that are both nourishing and flavorful. Residents enjoy: Three home-cooked meals daily Accommodations for dietary needs and preferences Restaurant-style dining with flexible seating Snacks and beverages available throughout the day Meals are served in a vibrant dining room that encourages conversation, camaraderie, and a shared sense of community.A Trusted Partner for FamiliesChoosing assisted living is a significant decisionand the team at Merritt Island Assisted Living understands the importance of trust, transparency, and ongoing communication. From the first tour to move-in day and beyond, families receive support every step of the way.The staff works closely with residents and their loved ones to ensure personalized care plans remain up to date and reflective of evolving health needs and personal preferences.Why Families Choose Merritt Island Assisted Living Compassionate care staff available 24/7 Comfortable, accessible living spaces Secure, welcoming environment Enriching activities and wellness programs Convenient location near hospitals, parks, and shopping Peaceful surroundings with beautiful outdoor areas Experience the Difference on the Space CoastSurrounded by natural beauty and a strong sense of community, Merritt Island Assisted Living offers seniors a vibrant lifestyle supported by expert care. Its a place where dignity, independence, and joy are part of everyday life. Schedule a visit today and discover the difference of personalized care in a place that truly feels like home.
Local Services By This Author
Linda Swanson - Coldwell Banker Realty
Real Estate 200 West Marion Avenue, Punta Gorda, Florida, 33950As a retired educator, I prioritize clear communication and attention to detail. I am passionate about what I do, specializing in Southwest Florida, providing expert guidance and support in real estate transactions. With a deep understanding of the local market, helping clients make well-informed decisions, ensuring a stress-free and enjoyable experience.Setting me apart from other Realtors is my personalized approach; taking the time to understand my clients needs, preferences, and goals, leveraging my knowledge to navigate the buying, or selling process. I am a Certified 72SOLD Program Director, an international program streamlining the house-selling process.First time home buyer, seasoned investor or to sell, I am an experienced professional who can help you achieve your real estate goals. Building lasting relationships and providing ongoing advice is a priority. My track record speaks for itself. Check out my Google ReviewsIf youre seeking a dedicated REALTOR who genuinely loves her work and is committed to your success look no further! Contact me today for a free consultation and embark on your real estate journey with confidence, exploring the exciting world of real estate transactions in Southwest Florida.
Linda Swanson - Coldwell Banker Realty
Senior Transition Services 200 West Marion Avenue, Punta Gorda, Florida, 33950As a retired educator, I prioritize clear communication and attention to detail. I am passionate about what I do, specializing in Southwest Florida, providing expert guidance and support in real estate transactions. With a deep understanding of the local market, helping clients make well-informed decisions, ensuring a stress-free and enjoyable experience.Setting me apart from other Realtors is my personalized approach; taking the time to understand my clients needs, preferences, and goals, leveraging my knowledge to navigate the buying, or selling process. I am a Certified 72SOLD Program Director, an international program streamlining the house-selling process.First time home buyer, seasoned investor or to sell, I am an experienced professional who can help you achieve your real estate goals. Building lasting relationships and providing ongoing advice is a priority. My track record speaks for itself. If youre seeking a dedicated REALTOR who genuinely loves her work and is committed to your success look no further! Contact me today for a free consultation and embark on your real estate journey with confidence, exploring the exciting world of real estate transactions in Southwest Florida.
Linda Swanson - Coldwell Banker Realty
Transition Specialists 200 West Marion Avenue, Punta Gorda, Florida, 33950As a retired educator, I prioritize clear communication and attention to detail. I am passionate about what I do, specializing in Southwest Florida, providing expert guidance and support in real estate transactions. With a deep understanding of the local market, helping clients make well-informed decisions, ensuring a stress-free and enjoyable experience.Setting me apart from other Realtors is my personalized approach; taking the time to understand my clients needs, preferences, and goals, leveraging my knowledge to navigate the buying, or selling process. I am a Certified 72SOLD Program Director, an international program streamlining the house-selling process.First time home buyer, seasoned investor or to sell, I am an experienced professional who can help you achieve your real estate goals. Building lasting relationships and providing ongoing advice is a priority. My track record speaks for itself. If youre seeking a dedicated REALTOR who genuinely loves her work and is committed to your success look no further! Contact me today for a free consultation and embark on your real estate journey with confidence, exploring the exciting world of real estate transactions in Southwest Florida.