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Starting in January of this year, we have seen a low availability of houses on the market to meet the demand for buyers. This has created what we term a "seller's market," where homes are now selling faster and for a higher amount. The demand has also caused a bidding frenzy which drives up the sale price. In our year end round up, we can see how more people are ready to make a move in the real estate market.

Notable stats of 2020:

 

  • New Listings -3,912 a 2.5% increase from 2019

  • Single Family homes sold - 3,259 a 20% increase from 2019

  • 41 days on the market - 20% down from 2019 (Average)

 

However, the seller's market will not last forever, as we are already seeing an increase in interest rates over the…

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