Market Overview: December 2020
“Today ‘home’ has a new meaning and has found new space in the American psyche,” reports Linda O’Koniewski, CEO, Leading Edge.!“Home has been redefined by the pandemic. For those who now live at work, school from home and crave views and outdoor space, many people are rethinking where and how they live.! As a result, folks who did not plan to buy another property this year are “on the move.” Demand is outpacing supply for homes that meet a new important criterion. Our New Hampshire agents have never been so busy and properties near water, lake, pond, river, or ocean are on fire. Cape Cod sales are up 51% over last year. We expect this trend to continue for a long time, as commuting to traditional offices is not likely to return to pre-Covid times.”
November sales of single-family homes in the Leading Edge service area increased +2.5% year-over-year. Inventory decreased -34.9%. The number of days on market over the last 12 months decreased -8.1% while median sale prices remain up +8.8% at $679,950.