Here’s what homebuyers and sellers should know in Jefferson County.
As we head toward the end of summer, I have a quick update on the real estate market for August 2021.
Listing inventory is the first thing I want to talk about. In July, we saw fewer listings come on the market than we did in June. We typically see that as we head out of summer. However, it’s not all seasonality in this case. We’ve seen more listings come on the market every single month in 2021 compared to 2020. This is good news because we need more homes on the market.
“Demand for homes is coming from multiple sources.”
Houses are selling at a much faster rate these days. Last year, they were selling in an average of 27 days in Jefferson County. In 2021, that average is down to just eight days. More houses are hitting the market, but they’re selling more quickly.
What’s causing this? Two of the big factors are pent-up demand from first-time buyers and opportunistic corporate buyers. Demand is coming in from multiple sources.
My message to buyers is this: Hang in there. We’re hoping that this bump in inventory will continue into next year. If it does, there should be less pressure, and it will be a little easier to find the right home.
My message to sellers: We don’t know what’s going to happen in the next year. We do know that your house is probably worth more than it ever has been right now, so reach out to us if you’ve even been considering a sale.
If you have any questions for me about the market or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.
