The 2021 housing market is continuing on with the same demands as 2020. A shortage in single family housing still remains an issue. Many properties being listed on the market are receiving multiple offers and selling very quickly. This is great for sellers, but makes for a very competitive market for buyers.
In fact, new listings so far this year have reached a record low with listings down 32%. With inventory even tighter, home prices continue to rise. We are seeing an 8% increase in home prices so far this year and that is due to heavy buyer competition-most homes are accepting offers well above listing price.
Buying a single family home in today’s market, especially in the $100,000-$500,000 price range can be very frustrating. With inventory so low, competition is very high-listed homes don’t last long and multiple offers come flooding in quickly.
The real estate market certainly continues to be a seller’s market. But do not let that stop you from finding your dream home. Whether you’re looking to move out of the city, upgrade or downsize, we’re ready to help you build your dream home in the Sauk Prairie area. Contact us today!