As we close out the wild year of 2020 we wanted to talk about some statistics on the current housing market – don’t worry, we will keep it short and sweet! Our housing market is a completely different environment than a year ago, and we want to recap before we look ahead to what is coming for 2021.
As of last Friday there were only 325 single family homes on the market (in the Campbell county, amherst, Bedford and Lynchburg markets). That is down 7% from two weeks ago!
It’s Christmas and the winter season, and houses are still selling faster than ever, with inventory that is lower than ever!
Here are some statistical quick facts for everyone that loves numbers:
- The median days on market is less than HALF of the same period in 2019, How many days on the market are we experiencing today? 10 days! That is verse the 21 days we experienced in 2019
- The median sales priced increased 12.7% in the last 6 month period vs the same period in 2019 – that’s an increase on a $192,000 to $219,900.
This is a good time to remind everyone that the market sets the price, not a seller or a buyer.
In our next blog we will talk about how to WIN at buying a home in this fast-paced market!
As always, our goal as your local caring, competent and trusted advisors is to not only KNOW the market and be good at what we do, but help you get into a home that you love. That means making the process of buying and selling smooth and as painless as possible! Let us help you today!