Market Stats: December 2020

Despite the twists and turns of 2020, the housing market was booming. I'm sure you've heard Realtors and other experts going on and on about low inventory and low mortgage rates. Here's what we're seeing in our area.

Market Stats: December 2020

December 2020 market stats show that across Central Kentucky, we have less than half of the inventory we had at the same time in 2019. We've also seen a 64% drop in the Days on Market for new listings. With mortgage rates below 3%, buyers can pay significantly lower mortgage payments than ever before; as long as they can get an offer accepted. Sellers are seeing multiple offers come in on their homes; many above asking price or without contingencies.

For Sellers who are contemplating making a move, let's chat about your strategic options! Buyers, make sure you KNOW what you're looking for in a new home and are ready to jump when THE ONE comes along because you've got a lot of competition.

-A

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