Clifton RE Report – NOVEMBER 2020.

Take a Look at Your Local Housing STATS and the Clifton Report – November 2020 (For Stats Pertaining to your Local Neighborhood, feel free to reach out)

Median Sold Price for Homes Sold in NOVEMBER 2020

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 75

Median-Price – Median Sold Price – Sale to List Ratio – DOM

$399,000 – $ 415,000 – 101.3% – 20

Median Sold Price for Homes Sold in NOVEMBER 2019

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 42

Median Price Median Sold Price Sale to List Ratio DOM

$ 349,999 – $ 350,000 – 98.7 — 24

That’s an Increased of 17%

Over 2019

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 has 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.
The expected increase of buyers traffic (60.7% higher than the same period last year per showingtime.com)
Due to buyers looking for a more suburban lifestyle, more outdoor/indoor space, more room to breathe 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: Real Estate is about the 3 P’s; Presentation, Promotion(Exposure), and Price.

Call us for a FREE, No Obligation Consultation.

Have a great week and be SAFE!