It is safe to say we are all excited to put 2020 behind. Even though January 1, 2021 will look very similar to December 31, 2020, I don't think I'm alone is saying there will be a little extra hope and optimism as I start the new year.
But, before we venture into the great unknown, let's recap some highlights from 2020:
We learned the value of toilet paper
We are all professional Zoom Video Callers
We expanded our wardrobe to make PJs all day socially acceptable
All kidding aside, 2020 definitely had its highs and lows both on our personal lives and on our economy. So, I know you are all dying to know how the Real Estate Market faired during the pandemic, and I think you will be surprised.
Yes, you are reading these stats correctly; in 2020, home prices went up AND the number of homes sold were more than in 2019!
Of course, I wanted to know if the # of home sales had anything to do with New Construction ramping up, but that wasn't the case this year. There were 612 new construction homes sold this year compared to 623 new homes in 2019.
Okay, so, Madison survived the housing crash of 07/08 and now it survived a pandemic?? They (who the "they" is... I don't know, but I know I've heard it) always said Real Estate is one of the best investments you can make, and Madison seems to be the shining example of that!
I don't have a crystal ball to forecast what 2021 will look like, but I foresee the housing market up ticking this spring as the vaccine is distributed. So, looking now is STILL a great time to try and "beat the rush" if you are looking to buy. Sellers, I recommend waiting until March-May to get the most bang for your buck. Here is where December is shaking out as of 12/20/2020
Have a wonderful rest of 2020, and...
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