Happy holidays! Despite winter and the Covid wave we are experiencing, real estate remains a strong and steady beacon of economic hope during these times.
All stats below are based on End of Month in October vs November:
Homes on the market – 4,571vs 4,123 (down 5%)
New homes on the market – 4,407 vs 3,148 (down 29%!)
Homes sold – 4,204 vs 3,816 (down 9%)
We’re seeing a lot of people, sellers in particular, pumping the brakes for the holidays. This is to be expected as it happens every year around this time. However, this will not impact sales price or “days on market,” if we stay anywhere close to the same pace we have been maintaining. The general feeling is that once the holidays have passed, there will be a feeding frenzy, and until inventory increases and interest rates begin to rise, we will continue to see a seller’s market with fewer options for approved buyers.
Best advice for sellers right now?
If you’re a seller, get your home listed as quickly as you can. Demand is sky-high and inventory is dropping even further as the seasonal lull compounds the existing inventory constraints we’ve seen all year. Don’t wait for Spring, when new homes will start to increase again. List now for the best chance to sell for the best price.
Additionally here are a few blogs that might help you as a seller:
Best advice for buyers right now?
If you’re a buyer, consider working with your agent to identify homes that came off the market in the last 30 days. Most of these homes will likely come back in early 2021, and our team of agents are poised to help you identify these houses before they come back on the market in the hopes of submitting a strong enough offer that entices the seller to agree to terms without going back on the market.
Additionally here are a few blogs that might help you as a buyer:
When 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.
Raleigh Market Director
Sold over 1,000 homes
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.