2020 began with an amazingly active January real estate market. We observed 733 single-family contracts for the month, which is 21% higher than the total from January 2019. We’ve been reporting on contract data monthly, using the same methodology, since 2009. This month’s deal count was the highest we’ve ever seen in any January, or February, or December, or November. Looks like we’re skipping the winter market this year.
We also see from the data that the inventory of homes available for sale is quite low. The number of properties on the market as of early February is significantly lower than either of the past two years. Factoring in the increased demand, the calculated inventory is even more out of balance.
The key takeaway from this analysis is that sellers are well positioned to try to take advantage of the strong buyer demand. We need help from homeowners who are looking to sell. The market has been very active for the past four years, and appears poised to move to another level. If selling is the right course of action for you, then we want to help you get top dollar for your home.
The opposite side of that coin is also important. Buyers need to understand that the market is very competitive, and shape their search accordingly. We also want to help buyer clients get into a home they are excited to buy, which can be difficult when there is so much demand. You need reliable analysis and advice, and you need it immediately. Having an experienced agent with a strong reputation represent you to can also influence a seller’s decision.
An active market is very exciting! Contact us today for more information, and to get started with your move.