With the beginning of 2019 showing signs that we may begin to see a well needed increase in listing inventory, the year wrapped up with some of our tightest inventory numbers we’ve seen since March 2018. What’s driving these low numbers? Well, we had fewer new listings the last quarter of 2019, combined with first time buyer jumping in to take advantage of the incredibly low interest rates. If the first few weeks of 2020 are any indicator, the entry-level market is going to continue to stay hyperactive in the immediate months ahead. On a good note, appreciation is projected to continue at a healthy 1-2.5% annual growth for the coming 12 months, with the lower end seeing greater appreciation, and luxury market and condo markets seeing some flattening or price corrections. See the latest statistics HERE.
With tax season upon us, if you, friends, or family have questions about the local real estate market and where we are headed, I’d be more than happy to provide helpful insights and advice!