What's happening so far in 2021?
The new year is beginning with a continuation of the trends we experienced in the past year: More sales and fewer listings.
While still early in the year, there are still no signs of the market slowing down. Interest rates for buyers who get mortgages remain low, increasing their purchasing power. Unfortunately for these borrowers, the inventory remains low. January and February are the two months in which, historically, we see a bump in the number of properties for sale - not so much at this point as keys-wide we are down 29.3% as compared to January 2020.
The bottom row sums it up where the number of pending sales is up 40.4% as compared to January 2020.
Look for our quarterly real estate report which will be coming soon.
