Phew! We made it through 2020. So we start the new year off with high hopes for new beginnings and good health for all!
We don't need, or necessarily want, to look back on 2020 in any way, because this one, after all, will go down in the history books!
What did we learn? For me, it was that nothing ever goes as planned. Personally, 2020 was a year full of promise with many exciting milestones for my family and me to celebrate. Needless to say, unfortunately, none went as planned, and there was no fanfare or revelry for any of those exciting times I looked forward to. The other thing I came to appreciate is that you can never take anything for granted! I honestly don't know of anyone who wasn't touched by the horrors and fear of COVID-19, myself included. I'm only thankful that my family continues to be blessed with good health and has been spared what others have succumbed to.
Now to real estate...
So, what did the global pandemic do to real estate? It almost seems silly and trite to talk about, but that's what I do (and know) best...While the market (and everything else for that matter) came to a screeching halt, I'm happy to report we ultimately saw an incredible rebound!
People in densely populated cities flocked to areas with wide open spaces, backyards, and green options. And lower Westchester sales took off! Year-to-date sales were up 14%. And Pending sales, well, that's the biggest change. There has been a 46% increase YTD in homes awaiting closings! Wow! Not only that, but the good news is that even more buyers are still waiting for the right house to hit the market! Unfortunately, however, for them, inventory is extremely low! There are 27% fewer active listings on the market than there were this time last year!
What does all this mean for you? For starters, if you're thinking of selling, NOW is the time! Buyers are absolutely willing to invest in homes that check all their boxes. And if you're in the market to buy, you're in a good place too. Interest rates are still historically low, and it couldn't be a better time to find the right home for your money! Since borrowing money is so cheap, the time is ripe for finding the home of your dreams at an affordable and comfortable monthly rate.
I'd love to take this conversation further. Feel free to contact me directly, and I'd be happy to give you more insight and/or help you buy or sell!
I'm a strong believer in seizing the moment! As they say, Carpe Diem!
Here's to 2021 bringing us all the health and prosperity that 2020 deprived us of.
