Our Market Update + 2021 Market Information

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Real Estate

We are so excited to report year-end numbers for 2020!! These stats will blow you away!

 · 6918 homes sold, up 11.5% year over year

· 7468 total number of homes Pending, up 16.3% year over year

· 10363 Active listings throughout 2020, down 6.9% year over year

 As of the end of December, we have 2 months of inventory available, meaning at the current rates homes are selling they will ALL be sold (if no new homes are listed) within 2 months! That is insanely LOW inventory! 

 ·Average days on market for the year was a mere 56 days; down 11% year over year

· The average market sale price is $350K, up 9% year over year.

We have dozens of happy sellers who sold their homes quickly for top dollar, and dozens of happy buyers who were able to lock into extraordinarily low-interest rates. The real estate market THRIVED despite being in the middle of a worldwide pandemic!

Now we find ourselves thinking will it stick around? With the increase in folks relocating and working from home mixed with record low-interest rates, we think the 2021 market will be fantastic.  Here are a few things we may see coming down the pipe in the new year. Experts are predicting sales to rise and sale prices to rise as well. The high buyer demand will propel growth in prices but not at the accelerated rate we saw in 2020. However, we may see a shift in the supply of houses if new construction picks up in the new year. Buyers will still be able to enjoy the low mortgage rates and increased selection of homes on the market in the new year but ultimately the market will remain seller-friendly. However, if 2020 has taught us anything, it is that things change in an instant. The bottom line is if you are in the market to buy or sell, don't wait. The time to do it is NOW! We encourage you to take the plunge and make your real estate dreams come true while the market is still hot and we want to help you every step of the way! Give us a call today to get started 907-529-4660.