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2021 March Real Estate Numbers for the Lehigh Valley
The March 2021 real estate numbers are in!
Some numbers are good and some numbers are bad. So here goes….
Good indicators:
- New listings on the market were UP by 15.5% which means that more listings are coming on the market
- Average sale price is UP 12.5%. This is an amazing increase! It’s great to be a seller. If you have anything to sell, NOW is the time.
- Sellers are receiving 100.5% of the asking price on average which means that buyers are paying the asking price and MORE than the asking price for property.
Bad indicators:
- Sold listing are DOWN 8% . This is an indication that there was not as much inventory on the market this year as there was last year. Inventory was still shrinking.
- Days on Market is DOWN a whopping 44.2% meaning that all homes are selling within hours or days of them going on the market.
- We have .8 of a month for supply of homes on the market which is -55.6% change. Once again, there are more buyers than there is inventory.
The world is watching to see what will happen now that the eviction and foreclosure protection has been lifted. My prediction is that there will not be much change. As I have said in the video, one of my trusted mortgage lenders was on a national call where the representatives from FreddieMac and FannieMae made it very clear that there would be no bailouts for the banks. And they were encouraging the banks to do ‘whatever they can’ to keep people in their homes. Like adding months to the back end of the mortgage to cover missing payments or restructuring the loans to avoid foreclosure. And if foreclosures do start up again, we won’t see much of it for approximately another year because the foreclosure process takes time.
#1 Mistake When Downsizing
Watch the Video https://youtu.be/jaLVlg-kWk0
Transcript from the video:
Hi everybody, I’m Diana Hodgson from The RedHeadAgent team and Keller Williams Real Estate here in Bethlehem, Pennsylvania.
Welcome to my channel! This is my first video; I hope to have many more following. And today, I’d like to tell you about the biggest mistake that most everyone makes when they’re downsizing.
The biggest mistake is that they wait too long. They wait too long to make this decision and unfortunately sometimes it’s a life change that will spur on the downsizing before someone is quite ready.
So, my three tips in downsizing are make a plan. Make sure that you’re sure where you want to go. Start to visit other communities or start to look around with a professional. Hire a real estate agent to show you smaller houses. Start to look at different neighborhoods, go to the other state to look. Do your investigation…Make a plan.
Secondly, tell someone about the plan. So if it’s your daughter, or your son, your sisters, your brothers, somebody…Let them know what you’d like to do in your retirement or when you’re starting to downsize so that they understand if something should happen or if there’s a life change that happens in your life that you can’t make decisions for yourself any longer, at least someone knows what your plans are.
And then third, hire a professional. Hire professionals to help you move, to help you downsize, to help you get rid of your stuff, to help haul away junk….all of that. And usually a good real estate agent will have a list of people that will be able to help you do all of those things and help you get through that process.
So, if you have any questions regarding real estate that I can answer, please put them in the comments below. Also, if you’d like to see my next video which I hope you do, please hit the subscribe button and we’ll see each other next time. Thanks so much, take good care!