Market Forecast 2021

The market forecast for 2021, much like any other year is like trying to get a clear look into a crystal ball.

Looking back at 2020, it was one of the Hottest Sellers Market we have seen in years.
With limited listings and a surplus of Buyers, multiple offers on properties were commonplace.
Sellers were not only obtaining record high sale prices but most often cash offers without any conditions attached.
The result was higher sale prices then we have ever seen on local properties.

Thus far 2021 has been more of the same.
There can be 20 or more offers on a single property, and sales values have been as much as $300,000 over asking.
Seems absolutely crazy, even as a real estate broker in the middle of it!

As we move on closer to spring, it is hard to determine whether this trend will continue.

It is possible that we could have a large number of Sellers hoping to take advantage of the high sales prices.
This potential flood of listings would cause a complete flip in the market. When there are more listings than Buyers, we generally see a drop in sales prices and the result is a Buyers Market.

So, my personal forecast of the 2021 market is two fold:

If you are a potential seller, my recommendation would be to list your property as soon as possible. As long as there are a limited number of properties available, you can take advantage of the higher sales values.

However, as a potential buyer, I would recommend that you hold off. Wait a few months and see if the market flips… it just might save you some money.

Only time will tell if my prediction will come to pass.

Watch the new listing page at: Just New Listings, to see if my prediction comes to pass.