According to a research brief published by the Center for Retirement Research at Boston College, after the age of 70, a “senior discount” begins to emerge in home sale prices.
Specifically, an 80-year-old homeowner receives, on average, approximately 5% less than sellers aged 40–50 for a property held for around 11 years. Based on the median home price in the U.S., which the National Association of Realtors reported as $405,400 in December, this difference translates into a loss of more than $20,000.
The phenomenon is particularly significant given demographic trends. In 2024, the so-called baby boomers—those born between 1946 and 1964—numbered 65 million, representing 20% of the U.S. population and 36% of homeowner households, according to Freddie Mac. At the same time, approximately 68% of homeowners from this generation indicate that they intend to remain in their homes as they age, a factor that has contributed to low housing supply and rising prices in recent years.
Why Older Sellers Receive Lower Prices
Researchers identify two main factors. First, properties owned by older homeowners are more likely to show deferred maintenance or fewer renovations, which negatively affects valuations even when location and market conditions are taken into account. Second, older sellers are more likely to engage in off-market transactions, limiting buyer competition and increasing the likelihood of a lower sale price.
Housing represents a key asset for older households. According to the Joint Center for Housing Studies of Harvard University, in 2022 the median home equity for owners over 65 reached $250,000—approximately 50% of the total wealth of households in this age group.
Older Ages, Later Sales
Market analysts note that Americans are selling their homes at older ages than in the past, as life expectancy rises and elderly individuals remain healthier. Additionally, a significant proportion of older homeowners retain their properties for decades, affecting both the condition of the property and their sales strategy.
The Importance of Planning
Financial planning experts emphasize that early preparation can mitigate value losses. Systematic maintenance, planned renovations, and integrating the home sale into a broader retirement strategy can help homeowners avoid forced sales and lower sale prices.
This trend highlights the close relationship between real estate markets and demographic developments, with the decisions of older homeowners expected to significantly influence future housing supply and market prices.