Real Estate Trends in December 2010

What is going on with the real estate market this December? During a time that typically slows down due to the holidays, there is still plenty to look at that may predict good things to come for next year. Whether you are a buyer or seller, the real estate market is surprisingly great right now.

November 2010 – A Surprising Month

November, another month that can be slow, our office moved 6% of our inventory. Why is that significant? We typically move 6%-8% of our inventory during good real estate months, such as the summer months. So, November, generally is a slower month, was actually on par with the other busier months this year. That is excellent news!

December 2010 – Predictive of What 2011 Holds?

What do November trends have to do with December’s trends? Surprisingly, another month that is typically slower due to the business of the holidays, is showing a similar trend of last month. This trend shouldn’t be ignored and should have everyone who knows the value of a healthy real estate market extremely excited.
The bottom line is this: homes are still selling despite the busyness this time of year brings. This can only lead to better times in the future.

Sellers & Buyers – A Less Competitive Market

Both buyers and sellers have less competition this time of year. For sellers, this means you are competing with a significantly fewer number of homes than you would during peak times. Less competition means your home will be much easier to sell. Who wants to try to sell a home when homes aren’t selling?

For buyers, there are fewer buyers looking for a new home right now. This means you may have an easier time finding and purchasing a home than you would during other times of the year. Less competition means you can negotiate a better deal on your next home.

Less competition is always a benefit for both buyers and sellers when it comes to the real estate market. This can mean significantly better deals for both buyers and sellers. That is great news!

It might not seem that there is much going on in the real estate market as we close 2010, but there actually is. The trends are much better than expected and will hopefully predict a great 2011 for the real estate market.