Nov. 29, 2019
Here is a great snap shot of the 2019 market statistics for single family homes, from Jan-Oct, which is the most accurate data, as the holidays really effect sales data in Nov and Dec. Table Below*
3 Important Takeaways With Single Family Homes:
1. The number of actual homes sold were down in almost all cities in 2019 compared to 2018. The percentages are not that concerning, but a trend worth monitoring going into 2020.
2. Median prices are slightly up in all cities in 2019 compared to 2018. Though this is positive, pricing for homes is still case by case. I do think as home prices for more expensive homes have gone down, more buyers have stepped in, as low interest rates have made those type of purchases attractive, which in turn, brings median prices up year over year. Also, more updated affordable homes are selling for close to list price or over in some cases.
3. This was one of the stronger October and November selling seasons compared to past years.
I still reiterate that Feb-June is still the best time to sell, but late Sept to early Nov has also become a very strong time too, as people want to be in their new houses prior to the holidays. Hopeful that these strong numbers can continue into 2020!
Here is a great snap shot of the 2019 market statistics for town homes, from Jan-Oct, which is the most accurate data as the holidays really effect sales data in Nov and Dec. Table Below*
3 Important Takeaways Regarding Town homes:
1. The number of actual town homes sold was down in almost all cities in 2019 compared to 2018. Batavia was slightly up, but that is due to the new development called Prairie Commons. I also think less people are moving out of their town homes, as they become more affordable.
2. Prices are very stable in this segment and in some cases are increasing.
3. Demand is still very strong for town homes and will continue to be. First floor masters and town homes with basements continue to be very popular.
Will be sending out our 2020 outlook in late December.
Eric & Lynn Purcell would like say Thanks, once again for all your continued support. We wish you and your family a wonderful holiday season!!!!