Despite a pandemic, social unrest and economic insecurity, we've (thankfully) arrived in November 2020. Because of the societal changes brought about by the pandemic; people who quarantined in apartments are still leaving the city in search of fresh air, more space, home offices, and backyards. The dramatic transition to a virtual work environment also ensures that many people will no longer need to commute on a daily basis for the foreseeable future, making suburban living a more viable option. Personally, I don't see any indication that this will change anytime soon.
Additionally, many of the must-haves for buyers have shifted significantly from things like wanting small lots in close proximity to town, to having plenty of land with room for a pool. This has been a big boost for the high-end market which had been in a slump for quite some time.
Normally we anticipate a seasonal slow down as the holidays approach, but this is 2020 and all bets are off! Most predictions are that the market will remain strong through 4th quarter and into 1st Quarter 2021.
If you are curious what all this means to the value of your home, give me a call. I am happy to update you on the market and help you achieve your real estate goals.
Below are my recent closed and pending sales from October...
