Even with the deep freeze across much of the rest of the country and Punxsatawney Phil predicting a longer winter, prospective home buyers and sellers are very active and looking forward to spring.
All stats below are based on End of Month in December vs January:
Homes on the market – 9,444 vs 8,863 (down 6%)
Average days on the market – 42.5 vs 43 (up 1%)
New homes on the market – 7,001 vs 9,011 (up 29%)
Homes sold – 10,019 vs 7,355 (down 27%)
In January 2020, there were 14,097 homes on the market compared to 8,863, a drop of 37% to January 2021, year over year. And also in January 2020, average days on the market for homes was 63 days versus 43 in January 2021, an increase of 47%. The market is moving quickly and appreciating fast. We are seeing multiple offer situations making this a great market for sellers but difficult for buyers.
What if I’m a seller?
Even in such a strong seller’s market it’s still very important to price your home properly. If you’re overpriced, your house may sit on the market for a long time. Having a pre-inspection before listing, and taking care of any issues that come up in that, can go a long way for getting better offers with waived inspections. There’s less hassle and risk once you’re actually under contract.
Here are a few blogs that might help you as a seller:
What if I’m a buyer?
With so few homes on the market compared to last year, buyers need to be aggressive to get under contract. It isn’t uncommon for homes to receive multiple offers and sell for 5-10% over asking price right now. Plan to offer more terms than just a good price. Those could be: waived inspection, extra down payment in case of a low appraisal, and making your earnest money non-refundable.
Here are a few blogs that might help you as a buyer:
AWhen you hire Trelora, you pay just 1% to sell your home. You’ll also get best-in-class customer service, and a team of expert agents who close hundreds of deals per year. And keep in mind, especially if you’re moving or you have friends in other states, that Trelora can help you in Atlanta, Charleston, Charlotte, Denver, Los Angeles, Phoenix, Raleigh, Sacramento, Seattle and Tucson. In the meantime, please stay healthy and safe.
Trelora – Phoenix
Christopher has been been in the Real Estate industry for 8 years and has had the opportunity to close over 1,000 deals while acting as the Managing Broker for thousands more. Christopher is passionate about continuing to find ways to simplify, maximize, and serve Trelora’s clients exceptionally well and spends his time building teams to deliver high levels of service. When not doing real estate Christopher can be seen training for marathons and ultra relays with his 2 year old daughter, eating pizza, and drinking a steady stream of Diet Coke.