What We Are Seeing In The Market In August 2020

Posted by Eric Peterson on Friday, September 25th, 2020 at 12:38pm.



The story continues that we need more inventory. Prices are up because the supply of resale homes and “Quick Move In” new homes are down. Experts predict next year we will see a “Spring Wave” of homes hitting the market as sellers who held off due to Covid will decide to sell. If you are on the fence and thinking about moving up it is a great time to secure your move up or downsize home before prices become unaffordable.

On the ground in the areas we serve we are seeing less than 1 months of inventory. There are more homes under contract than homes available for sale. That means if you drive past a For Sale sign there’s a better than 50% chance the home is already under contract. Any market with less than a 3 month inventory is considered a strong seller’s market and we are only at 1/3 of that figure. There is a pronounced flight to the suburbs going on as buyers want more room and have parks and playgrounds nearby. That bodes well for our area.

As always please reach out if there is anything we can do for you or any of your friends. Whenever you are ready to talk about your home call/text Eric Peterson with Kopa Real Estate at 512-791-7473 or email eric@koparealestate.com.

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