“2021 will be the year homeowners who are contemplating moving, will wish they sold,” predicts Linda O’Koniewski, CEO, Leading Edge. “It’s not that prices of property won’t continue to appreciate, but the terms and convenience of selling a home has never been better for sellers. On the flip side, this translates to heartache and frustration for buyers. The good news is that inventory will begin to expand as vaccinations increase and Covid-restrictions start to lift. More property will be available to purchase, but demand will continue to outstrip supply.”
January sales of single-family homes in the Leading Edge service area increased +17.3% year-over-year. Inventory decreased -37.1%. The number of days on market over the last 12 months decreased -16.2% while median sale prices remain up +9% at $690,000.