MARKET TRENDS FROM 2020 THAT WILL BE THE NORM IN 2021!
I am basing these predictions on what I see every day in this business. As most of these new trends locked into place towards the middle of 2020, it is probable they will remain in 2021.
LOW INVENTORY: Inventory data shows 71% fewer homes for sale over the last 12-month period. This is a new record low! This means buyers need to put their best foot forward, as it is common to compete with multiple offers. Successful buyers are pre-qualified and educated on market value. They are teamed up with a licensed REALTOR® and ready to pounce!
PRICES ARE STILL ON THE RISE: With low inventory and high buyer demand, prices are still on the rise making this a strong market for sellers.
INTEREST RATES ARE SUPER LOW: With low rates, buyers are able to afford more house, a true advantage to buying in this market.
VIRTUAL SHOWINGS ARE A REAL THING: Many homes are being purchased by buyers off of virtual videos and FaceTime calls. For sellers, proper marketing is key in this market and although it is a good time to sell, it is not a good time to skimp on marketing. This can make all of the difference for a quick turn-around from listing to going under contract.
IN SUMMARY: The market is tough, and now more than ever, you will want your transaction managed by an experienced REALTOR®, who is trained to maneuver through multiple offers and works full-time. Most importantly, you want someone who will abide by the REALTOR® Code of Ethics, which requires protecting our client’s best interest at all times. If I can assist, please contact Jackie@TheCassinaGroup.com.
The Village Connection :: Old Village Real Estate :: Mount Pleasant, SC 