Although Incline Village is hardly typical for down payments and more than the average number of deals are cash, this information may be helpful for someone in your family.
"The average buyer who purchased a home last year made a 14 percent down payment, or about $32,141, according to a new RealtyTrac analysis of 1.5 million purchase loans across 386 counties nationwide.
"This analysis shows that first-time home buyers have a better shot at buying a home in low-priced markets, not just because of the lower price point but because, on average, buyers are putting down just 12 percent in those markets compared to 24 percent in high-priced markets," says Daren Blomquist, vice president at RealtyTrac.
In the highest-priced markets, down payments averaged 24 percent — about $138,547. On the other hand, down payments averaged 12 percent in the lowest-priced markets, or $8,239."
Link to Realtor Magazine article: What's an Average Down Payment? | Realtor Magazine:
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