With the new year off to a running, or lagging start, depending on how you look at it, I am frequently asked about what the market will be like this year. While I don’t have a crystal ball and can’t predict with certainty, I tend to track trends I see personally throughout my interactions with buyers and sellers, as well as rely on the experts…local economists that I have the opportunity to interact with this time each year.

Nobody predicted the whirlwind our economy has faced this last year, and even less did anyone anticipate the real estate market skyrocketing, but it did. Having started 2020 with years-long low inventory in the market, and already low interest rates, 2020 was off to a healthy start in the world of real estate. Buyer demand increased as the pandemic took hold and interest rates continued to drop even lower…except we found ourselves with even less inventory to sell, driving demand and therefore prices up even higher.

At some point, I would suspect that pricing will level off, but that’s not what local economists are seeing for 2021…rather a continued increase in value is predicted. While interest rates are anticipated to remain low, my hope is that more sellers will emerge as they become vaccinated and/or more comfortable the process of viewing property out in the open as well as having prospective buyers come through their homes.

Your home has likely never been worth more than it is today. If you have considered selling and are on the fence for any reason, please give me a call at (619) 944-2798. There are many reasons why sellers choose to wait. If I can help overcome some of those objections, such as provide solutions and suggested plans for finding a replacement home for you, helping you with projects to prepare for a sale, or simply provide advice whether or what needs to be done in order to get the maximum value out of your home, then perhaps I can help get you on track to make the most of these unprecedented market conditions.