and make homeowners second guess wanting to sell and move.” Days on market for attached homes also decreased since the early part of 2020 — a reflection of lower inventory. “Most of the quality homes will not be on the market more than several days, if even that,” says Carter. “Those that are sitting longer tend to be overpriced or need significant repairs. I do not think we will see a change in this trend for a long time.”
Inventory was significantly higher than sales, but toward the end of 2020, inventory levels dropped and sales increased. Carter thinks this may be due to homeowners not wanting to put their homes on the market out of fear they won’t be able to find another in such a competitive environment. “The other hurdle most people face is that they must sell their home before purchasing another one,” she notes. “This can be difficult in a competitive market
Inventory
M O N T H LY C O M PA R I S O N
$472,450
– AT TACHED HOME S – $445,000
$395,000
$395,000
50
40
48
38 25 10
Dec-19
12
Jan-20
9 Feb-20
$394,632
13
Mar-20
19
Apr-20
Sales Ratio Number
Total Sold
$441,240
$445,000
43
41
$465,000
53
9 May-20
17
Jun-20
$420,000
46 19
Jul-20
26.36%
$426,495
39
32
17
Aug-20
Sep-20
$440,000
29
24
Oct-20
$417,679
25
25
Nov-20
$410,142
25
28
Dec-20
COLDWELL BANKER GLOBAL LUXURY® - THE REPORT 2021 | 53