As postcovid life continues, many real estate enthusiasts have kept a close eye on the market. What people want in a home has shifted as well. More people than ever are continuing to work from home and thereby feel new needs, wants, and desires in a home. Coupled with low interest rates there has been an insatiable demand in the housing market. Below are a few of the most helpful statistics in comparing
in 2021 versus 2020.
There has been a 39.1% increase in home sale prices from 2020 to 2021
The average medium home sale price is $915,000
Average days on market in 2021 is only 11 days compared to 36 days in 2020
August 2020 had 104 home sales compared to only 59 home sales in August 2021
What this information can tell us is that there is still a strong demand for homes for sale and buyers are willing to pay a hefty premium. August is historically a low volume sales month for home sales. As kids go back to school many families are not looking to make a big move this time of year unless it is absolutely necessary. However, the lower number of home sales this particular August is simply due to low inventory. There is an abundance of buyers and homes are selling, faster than ever!
It is a fabulous time to be a seller if you are considering selling your home. The “bubble bursting” that many conservative buyers are waiting for is simply not happening. Home sale prices continue to rise, as inventory remains historically low. If you need helping finding the perfect home for your family please feel free to reach out to our team. We understand how difficult it can be navigating this unique real estate market.
