We often hear, in the real estate realm, that Spring Market is when everyone comes out to buy and sell homes. True, spring has historically been the busiest time for real estate, and our stats for spring generally show marked increases in listings, sales, pricing and overall movement (no pun intended;). However, we have been noticing that over the last couple of years, home sales just haven’t slowed… at all. Certainly, there have been temporary “bumps” in the real estate road, such as the start of COVID-19, the election, and other short term hiccups; yet, we are finding that home sales just keep climbing in number (and price!).
As of December 2020, we have the highest number of pending sales since May of 2005, and we may crush 2005 numbers yet this year (it is only January!). So, it seems spring is here… all the time. There is no bad time to list your home or to buy a home, in the current environment. So, the good news is that your timing is really up to you.
Now, we must keep in mind that as demand rises, prices rise, as well. Therefore, if you are a buyer who is ready to buy, I certainly recommend jumping into the market as soon as you can. Due to the lack of inventory, many of our buyer clients are going the new construction route, if prices are in line with their goals. I am a new construction expert, so I would love to discuss this option with you!
As for listings, the lack of inventory has been a great advantage for sellers; especially for those who are not in price points that are competing with new construction. Even with new construction booming, however, our luxury clients are seeing amazing returns on their properties, as many luxury buyers prefer established neighborhoods to new neighborhoods.
There is something for everyone this spring, and it all starts whenever you want it to. Are you wondering what YOUR best path might look like, as you consider a move? Please reach out! Let’s chat about the details and create YOUR plan for success!
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