Market Overview: July 2020
“This is the single best time in the history of real estate to be a seller. Which makes it the single worst time to be a buyer,” reports Linda O’Koniewski, Leading Edge CEO. We are witnessing unprecedented bidding wars for property and some of the highest sale-to-list price ratios we’ve ever seen. Why? We have a short supply of sellers willing to go on the market and invite strangers into their homes. The industry has adapted and, for the most part, agents and companies are complying with safety protocols. It is critical to align yourself with an agent who is not only strategic and market savvy but has all of the procedures in place to protect you and reduce contact in the transaction. Virtual technology is effective and impactful. Leading Edge agents have been leading the way since mid-March and our sales are far outpacing the market as a result.”
June sales of single-family homes in the Leading Edge service area decreased -37.5% year over- year. Inventory decreased by -40.2%. The number of days on market over the last 12 months increased +5.7% while median sale prices remain up +4.0% at $650,000.