Yesterday we saw that more than half of the NSDCC houses sold over the last couple of months have closed for a price that’s higher than their list price.
Another difference from previous years is the efficiency.
Typically, there are only around 55% to 60% of the listings that actually sell each year – mostly due to agents re-freshing their listings repeatedly, sellers changing their mind, and wrong pricing.
What a huge difference in the Covid Era.
We have fewer homes for sale, but more of them are selling:
NSDCC Listings Between December 1st and January 31st
| Year | |||
| 2020 | |||
| 2021 |
Before Covid was declared, we had come into 2020 with low rates and renewed optimism, and the market was active as participants were finding their way, price-wise. There were 48% of the early listings that found a buyer before Covid kicked in on March 12th.
This year, the higher-end market is healthy, but the Under-$2,000,000 is blistering hot:
NSDCC Listings Under $2,000,000 Between December 1st and January 31st
| Year | |||
| 2020 | |||
| 2021 |
89%!
When you are telling your grandkids about THE GREATEST REAL ESTATE FRENZY OF ALL-TIME, come back to this page!
> “THE GREATEST REAL ESTATE FRENZY OF ALL-TIME”
Grandpa, tell us again about “single digit interest rates.”
LOL – if we get back to 5% rates, it will be a whole new ballgame!