Strong Activity to Start 2021
The new year for real estate activity started much like the majority of 2020 – active!
Continued pressure on listing inventory in many market segments has led to prices remaining strong with no discernable evidence of when that might change.
For home buyers it is critical to have the proverbial “ducks in a row” and connecting with me to help line-up all the important parts in advance of writing an offer on a new home will help give you the best chance at securing it in this market.
If financing, being pre-approved by your lender and flexible on your closing date are two important factors. Sellers in today’s market can maximize their sale price by presenting their home in the best possible light – this may include staging, pre-inspections to address any issues that may arise when a buyer does an inspection and working diligently to identify a replacement property if remaining here in the valley.
Our market right now is dynamic and opportunities exists for both buyers and sellers. The spring should yield additional inventory and give buyers more options. Until then, let’s work together to identify your goals and put a plan in place to achieve them.
Post Holiday Pending Contracts Jump
Pending sales have picked-up in January with buyer activity resuming at a steady pace. As the chart indicates, a relatively quiet holiday season has been followed by a jump in contracts as new inventory that trickled onto the market has been quickly absorbed.
Not all market areas are seeing the same level of interest and value/appreciation levels remain disparate from neighborhood to neighborhood. If you have a specific question about the value of your property or area of interest, please reach out anytime.
January Real Estate Market Snapshot
While there are fewer homes that have sold in January as compared to December, there are 25 more homes under contract this month.
Price per square foot has also continued to increase (up $17 from December), and the average days on market has decreased (down 33 days compared to last month).