Under usual circumstances, the spring real estate market is busy with lots of new listings and interested buyers ready to shop and find a new home.

What we saw last spring in 2020 was an anomaly. The pandemic was in it’s early stages and the spring market crashed, resulting in record low levels of inventory and sales.

Many sellers pulled their homes from the market and decided to wait it out. We think that this past December’s market update is a good precursor to the year ahead. December usually brings low inventory and low sales, yet in 2020, December sales were at record highs. There is increased confidence in the market as we regain our balance since the onset of COVID-19 and now with sellers getting their bearings, we foresee an influx of listings come spring.

December 2020 sales totalled 1,199-the highest December total since 2007. The housing demand over the second-half of 2020 was far stronger than anticipated and nearly offset the initial impact caused by the shutdowns in spring. Even with the further restrictions imposed in December, it did not have the same negative impact on housing activity like we saw in the earlier part of the year. Attractive interest rates along with prices that remain lower than several years ago have likely supported some of the recovery in the second half of the year.

The pandemic has resulted in a significant shift in economic conditions, yet the housing market is entering 2021 in far more balanced conditions than we have seen in over five years. This will help provide some cushion for the market moving into 2021.

Currently, inventory is low. We have buyers ready to purchase, but no properties that meet their criteria. The advantages to list this year before the spring market rush are extensive. Even if you’ve been on the fence to list your home, or are guarded because of the pandemic, we’re here every step of the way to help you reach your goals.

LOW INVENTORY + LOTS OF QUALIFIED BUYERS + PENT UP DEMAND = SELLER MARKET

The early bird gets the worm: You all know this classic saying, and it’s certainly relavent regarding listing your home before the spring rush. In an ideal world, you’d list your home when there’s very limited competition and lots of buyers in the marketplace ready to purchase. So why would you wait it out and list when potentially thousands of other home owners are planning on listing as well? You must be mindful of the competition and the more homes that there are to choose from, the more picky buyers can be. You may loose out on an offer for a seemingly inconsequential reason. Sometimes, it’s important to avoid the peak markets. Timing also depends on the type of home you’re wanting to sell.

There’s an art to timing in real estate, and we’d love to help you get started. For more information on how to enter the market as a seller, give us a call! We’d love to chat about your situation and your options:

(403) 404 0300
Jonathan@PopowichRealEstate.com
www.PopowichRealEstate.com