[JAN 2021 REAL ESTATE STATS]
THE BIGGER STORY: inventory continues to decline, down 23% compared to January 2020 & down for the 23rd consecutive month!
January’s sales up 104.1%. Understandable in part as we lost 2 weeks last January due to snowmageddon.
[RE/MAX INFINITY 2021 REAL ESTATE MARKET FORECAST]
If low inventory continues & higher construction costs on building materials remain constant or climb, look for positive pressure on pricing as we go into 2021.
We believe there may be up to 7% price appreciation (perhaps higher) in the St. John’s area this year!
Buyers may want to think about entering the market early and capitalize on the projected equity growth in 2021.
Rob Burton FRI REALTOR (709) 682-2345 Fellow of the Real Estate Institute