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 last couple of days. If you are interested in leveraging yourself in the current real estate market, NOW is the time to make a move.
On the other hand, if you are looking to buy a home this year, we are prepared to help you navigate the market!
Give our team a call today! We would love to help you make a smart move.
<p>Take Care, </p> <p><img style="float: left;" src="file:///S:/Marketing%20and%20Prospecting%20Systems/Graphics/Signatures/Mary%20Cox%20Sig%20best.jpg" alt="" /></p>