Septemebr 2021 Market Update

By D. Michael Burke

Happy pre-Labor Day everyone! It’s almost hard to believe that we’re entering the final months of the year. For this month, we wanted to discuss some recent shifts in the real estate market. Notably, if you’ve been thinking about selling your home but you’ve been reluctant to list your home before the holidays, you’ll want to act sooner than later.

Although statistics show that the median home price in the United States has risen by about 24% since the start of the pandemic, recent data shows that the housing market has started to level off. For example, an August 30 article by a major news outlet reported that homebuyers signed fewer contracts in July than they have in the past 16 months. (Pending home sales declined by 1.8% in July from levels recorded in June.)

And while for-sale home prices are still significantly higher today than they were in September 2020, the Seattle-based real estate brokerage Redfin reports that the “extreme seller’s market” may be at the top of the bell curve. According to recent data, the typical asking price for a home is down roughly 3% from its peak in June. Home prices are still up significantly year-over-year- which means now is still a great time to sell. Consequently, if you hold off listing your property until November, December, or January of next year, your final sales price will likely be less than what you would get if you started the process today. Our experienced team of professionals is here to help you achieve your residential real estate goals. Whether buying or selling, our tools are PROVEN to help you get the most from your transaction!

Let’s chat! Just give us a call at 239-498-7600. We look forward to hearing from you