December 2021 Market Update

It’s the Most Wonderful Time of the Year….

Wow, it is the holiday season already! This year has gone by so fast. I hope you had a great time with your family over Thanksgiving and continue to enjoy this month full of fun for the upcoming holidays and into the New Year.

As I run into family and friends at neighborhood events and gatherings, the conversation frequently turns to the real estate market. The most common question I am asked is, “how is the market today?” My latest response is a good one; from a historical perspective, it’s insane (in my opinion)! Inventory of homes for sale in our area has dropped to only 1,886 homes for sale for the first time during this time of year. Additionally, new sales contracts written the previous seven days were the second-highest ever; only 2020 had more contracts written.

Typically, approximately 415-460 contracts are written during Thanksgiving week; we had 653 this year! Demand continues to outpace the supply by a wide margin. So, this leads me to the next question I usually get asked, “should I sell my house during the holidays?” My answer remains; it depends. If you really need to sell, now is a great time as inventory levels are low and demand is high. Houses typically “look” festive this time of year which is an added staging bonus.

The important aspect to keep in mind is that pricing still needs to be on point for a house to sell, even in the environment we are currently experiencing. If you are looking to “cash-out” and take advantage of the market, now is not the best time to sell as buyers are still being very selective when choosing a home, and price is always high on the list along with condition. This is not the time of year to push prices. If you want people coming through during the holidays, it is 100% up to you. So, if you are considering a move now or in the future, please call me.  We can get you positioned for success.

Have a great holiday season with your family and friends!

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