Home sellers start getting lower prices at 70, research shows — and the gap widens with age

Recent research has revealed that older homeowners across various markets are receiving significantly lower prices when selling their properties, with the financial disparity increasing with age, primarily due to two contributing factors: inadequate property maintenance and the choice to sell privately rather than through real estate agents. The study, which examined sales data from thousands of transactions, found that homeowners aged 70 and older typically receive approximately 10-15% less than their younger counterparts for comparable properties, a gap that widens as properties age and require more maintenance. Researchers attribute this discrepancy to both physical deterioration of homes that older owners may be less able or willing to address, and the tendency of elderly sellers to avoid commission fees by handling transactions independently, often resulting in less optimal pricing strategies. Market analysts suggest that these findings highlight the need for better education among older homeowners about the true costs of private selling and the potential benefits of investing in pre-sale property improvements, which could substantially increase their final sale price and offset both maintenance costs and real estate commissions.