“With stocks closing at a record high, it is no surprise that real estate is following the same trajectory. The housing market has mirrored the stock market for decades and this is no exception,” reports Linda O’Koniewski, CEO, Leading Edge. “With record highs, there are always whispers of the “B” word—bubble. All the factors that have fueled the real estate market remain in place. Low inventory, low-interest rates and high demand. We can expect this market to sustain itself well into 2021, there is no imminent bubble.”
December sales of single-family homes in the Leading Edge service area increased +17.3% year-over-year. Inventory decreased -30.2%. The number of days on market over the last 12 months decreased -10.8% while median sale prices remain up +8.7% at $685,000.