As a Real Estate Agent, the most frequently asked question is always: “What’s going to happen with the market”, and of course our answer is always the same…Who really knows for sure!

That being said, there are some patterns, trends and facts we can track that allows us to make educated guesses:

Facts:
* Inventory is way down
* Demand is fluctuating
* Interest rates are low

Our Observations

Many people are waiting to put their homes on the market. Unsure of what the future will bring, they are unwilling to sell their homes until they feel more certain.

If this… then this:

If the vaccine proves to be effective and/or Covid numbers decline, then people may feel more comfortable with showing their homes.

If more homes come on the market, then demand should balance and the inventory on a month’s supply basis will increase.

If interest rates increase, then buyer’s affordability index will drop.

Our Prediction

As the country begins to re-open through 2021 we will begin to see more Sellers willing to allow Buyers through their homes. Interest rates will remain low and the prices of homes will continue to increase through the end of 2021, but not such an enormous leap like we saw in 2020.

As more and more homes go on the market the prices will begin to level towards the 3rd quarter as there will be inventory to satisfy the previously insatiable buyer pool.

We must also keep in mind that each property, based on lot size, location, price range and amenities have different desirability and some are hotter than others! It’s important to know specifically where your property fits. We study homes and prices daily and invite your call for a detailed analysis or discussion.

Our Guarantee

We don’t have a crystal ball but we will continue to monitor the market and keep you updated as the year progresses.

If you have more detailed interests, concerns or questions, please don’t hesitate to reach out!