The following Real Estate statistics were collected by MLSOK, Inc., for the time frame December 1 through December 31, 2020.
Below summarizes our regions monthly sales activity. For a full review please see report that follows.
December is normally one of the slowest months of the year but strong buyer demand across most segments of the market, buoyed by near-record low interest rates, continue to drive a healthy sales pace in the face of a new wave of COVID-19 infections and a softening jobs market.
New Listings increased 14.7 percent for Single Family homes but decreased 2.2 percent for Townhouse-Condo homes. Pending Sales increased 39.3 percent for Single Family homes and 54.8 percent for Townhouse-Condo homes. Inventory decreased 36.1 percent for Single Family homes and 20.5 percent for Townhouse-Condo homes.
Month’s Supply of Inventory decreased 43.5 percent for Single Family homes and 22.2 percent for Townhouse-Condo homes.
Median Sales Price increased 12.2 percent to $201,975 for Single Family homes but decreased 21.4 percent to $110,000 for Townhouse-Condo homes.
Days on Market decreased 28.3 percent for Single Family homes but increased 21.1 percent for Townhouse-Condo homes.
With low mortgage rates and strong buyer demand in most market segments, the housing market of early 2021 looks to continue trends we saw in the second half of 2020. Low inventory and multiple offers on in-demand properties and market segments are likely to oremain common while the market waits and hopes for a boost inn new construction and a surge in home sellers to help provide more balance to the market.
If you are wondering how current national and global situations might be impacting your property’s value, your neighborhood, or the Real Estate market in general, we are happy to provide more specific information.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
