With year over year data on each market and submarket for 2020 and 2021, keep in mind the timeline of the pandemic: Q1 2020 was a regular market, Q2 2020 was deeply depressed from lockdowns, and Q3 & Q4 2020 were hot quarters and showed a backlog of inventory selling out to record low levels. By the beginning of 2021, every market was experiencing unprecedented scarcity, which in turn drove up list prices, spurred bidding wars, and inflated values across the board. New construction prices climbed at astonishing speeds, and demand soared to record levels. Indeed an unprecedented time in the real estate industry! These year-over-year statistics will paint a broad picture with averages and statistics to help you get an expansive view of where things stand. For a more detailed analysis of your specific area, please feel free to reach out anytime for a personalized consultation.
