After another strong year in 2019, we’re optimistic about the 2020 real estate market. Here are a few reasons why.
Today we’re taking a look back at the 2019 numbers for our real estate market, and looking forward to 2020.
2019 was another great year for our real estate market. Our appreciation was up by a little over 9% and our average sale price rose from $268,000 to $285,000.
This growth has been fueled by our low inventory. We’re currently up a little bit from where we were last year, but it’s still below what’s considered a balanced market. At the beginning of the year, it was shocking how few homes we had for sale.
We’re expecting another solid year for real estate.
We’re still in a seller’s market but the options for buyers are increasing, which is a good thing. We have about two months of supply right now. This more balanced market is better because buyers and sellers can both benefit from it.
Looking forward to 2020, we’re expecting another solid year for real estate. We certainly don’t have a crystal ball, but based on the opinions we’ve been hearing from experts we know, we’re optimistic.
If you’re interested in buying or selling a home in 2020, feel free to reach out to us via phone or email with any questions. We want to put you in a position where you can make the best decision possible for your family and your future. We look forward to hearing from you soon.