Market Update March 24, 2021

A RECORD OF 36% OF HOMES SOLD ABOVE THEIR LIST PRICE IN FEBRUARY.

Our seller’s market shows no signs of slowing down as rising interest rates continue to drive buyers into a FOMO (Fear of Missing Out) frenzy. This historic competition, coupled with 16% fewer new listings in February, has pushed sale prices up 14%. The above chart shows just how dramatic this has been.

Such a demand has people offering more than a house was initially listed at, leading to the staggering fact that 36% of homes sold over list!

If you’re wondering what you home is worth in this market, I got some data available that might just of interest to you!