During this pandemic, it may seem a little odd to be looking at the Real Estate market stats. However, eventually this will be over and things will return to “normal” (whatever that means). When that happens a lot of people will be analyzing the current state of our economy. They will wonder what impact it had on their investments – and for most of us, our home is our biggest investment. Therefore, it’s a good idea to know what is happening now – not waiting until it’s “over.”
Comparing March, 2020, to March 2019, the stats tell us that although fewer homes were sold, those that did sell, sold for almost 5% more than a year ago. Almost every category of home (detached, attached, condo) sold for more this year than last. The sole exception being townhomes with 4 or more bedrooms. Those took a small dip (less than $1,000) in their sales price. The type of home with the biggest leap? Detached homes with 2 or fewer bedrooms. They jumped 29.6% in price.
Keep in mind that these are the averages for the entire county. If you want detailed information about your neighborhood, or have other Real Estate questions, shoot me an email!