Clifton RE Market Report – DECEMBER 2020.
Take a Look at Your Local Housing STATS (For Stats Pertaining to your Local Neighborhood, feel free to reach out)
Median Sold Price for Homes Sold in DECEMBER 2020
Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 74
Median-Price – Median Sold Price – Sale to List Ratio – DOM
$ 395,000 $ 400,000 100.2 22
VS
Median Sold Price for Homes Sold in DECEMBER 2019
Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 61
Median Price – Median Sold Price – Sale to List Ratio – DOM
$ 369,000 $ 360,000 100 33
That’s an Increased of 10.5%
Over 2019
ABSORTION RATE: 2 Months of Inventory of homes,
This is still an outstanding increase of value in just a year, in spite of the health crisis and the tremendous share of uncertainty in many areas of our lives, real estate still shows strength and resiliency.
The further reduction in interest rates have contributed to the price rises as it helps offset the increases in mortgage payments.
Several points to consider:
- There might never be a better time to sell than now
- Interest rates continue at an all-time low, making it a great time to Buy or REFINANCE your higher rate mortgage and meet your financial needs whatever they might be.
- Expected increase of buyers traffic (60.7% higher than same period last year per showingtime.com) for the foreseeable future (2021) due to buyers looking for a more suburban lifestyle, more outdoor/indoor space, more room to breath in the outskirts of bigger cities, especially now that working remotely has and is becoming the new norm.
- After a period of continued uncertainty it might be the best time to sell higher in a high demand-less inventory market, attaining higher price with possible multiple offers and better terms/conditions.
- REMEMBER: RE is about the 3 P’s; Presentation, Promotion(Exposure) and Price.
Call us for a FREE consulation.
Have a great week and Prosperou, Peaceful and Healthy 2021
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