Jason Catton
Broker Owner, MCNE
Realty Executives Acclaimed
Thinking of selling your home in 2021? Whether it is because you spent most of 2020 locked up in your house and you want a change of scenery or if you are looking to simply upgrade in 2021, now is the perfect time to sell your home.
Interest rates are predicted to remain at low levels in 2021. According to Business Insider mortgage rates are at historic low levels right now and are predicted to remain low throughout the first half of 2021. These low levels will entice more buyers than average.
Inventory remains low as well and may continue for the first half of 2021. Have you ever dreamed of when you sell your home you would receive multiple offers? With low housing inventory, this is becoming increasingly more common. Low inventory leads to quick home sales, some selling in less than a month.
Marketing your home properly remains extremely important and at Realty Executives Acclaimed all our agents have access to the latest in virtual home technology that provides possible buyers with the capability of touring your home the second it hits the market. No more waiting for showings, to see an example, click here. This technology has helped several homeowners sell their homes in less than a month.
One thing you do not want to do in 2021 is attempt to sell real estate without a REALTOR®. REALTORS are familiar with their local market and know precisely what to expect, what to watch out for, and fully understand what the market will bear.
2021 will continue to be a sellers market, therefore, if you have been thinking of an upgrade or if it is your New Year’s Resolution to sell your home, this is your year! For more information about the Peoria area housing market, contact me. To see what your home is worth, click here.
You may have heard of southern hospitality, but we are here to tell you that midwestern hospitality is definitely a thing! Prepare yourself for random compliments from strangers and while you may not be able to see the smiles through the masks, know that mostly everyone is smiling and saying hello. When midwesterners show up to lend a hand, they will most likely show up with vegetables fresh from their garden as well. In addition to kindness, there is always something to do within the region. The team at 'Discover Peoria' work tirelessly to create an all inclusive calendar filled with unique experiences that can only happen in a community as old and unique as Peoria, Illinois. If golf is your thing, Peoria has been ranked as one of the best places to play golf.
Peoria's Downtown Riverfront Market is home to one of the most scenic farmer’s markets in the state of Illinois and offers fresh locally grown organic vegetables. At the market you can receive recipe ideas AND cooking demonstrations conducted by dietician students from local universities and on occasion they let you sample the food right then and there. Peoria is also home to several state of the art medical facilities, including one of the world’s largest endowment for health care engineering.
If you have an idea for a business or company, there are several resources to help foster your dreams or your side hustle. Peoria has also been ranked as one of the most innovative cities in the country due to the number of patents per capita. Several organizations work tirelessly to provide services to assist emerging entrepreneurs accomplish their goals.
We know you do not want to work from home forever, so we thought we would include the fact that Peoria has been ranked as one of the best places to retire based on long term care facilities, availability and cost.
The best reason to work from home in Peoria is the cost of living. Think of your forever home, in Peoria, that may be closer to reality than you think. You can get a 4 bedroom, 2 bathroom home with a home office and a yard for the dog for $112,750 on average. (Statement based on statistical reporting from October 2020 sales reports for the city of Peoria.)
For more information about the available homes for sale, send me an email and I will share with you the possibilities. The results may surprise you!
Third quarter of 2020 had 2,210 closed sales which is an increase of 28% from the third quarter in 2019. These numbers are astonishing given the fact that there is a shortage of inventory homes for sale, totaling a 3 month supply as opposed to a six month supply which is known to be a balanced market.
The total number of days on market is at a record low of 60 days. These numbers translate to less showings for your home to go from “just listed” to “just sold”.
REALTORS have found ways to adapt their home marketing, and showing procedures during this pandemic. Fortunately, the Peoria Area Association of REALTORS' early adoption of technology has helped make buying and selling your home a more streamlined process in our region. Digital signatures, more photos, 3D virtual tours, videos, floor plans, live streaming, and the ability to quickly send information to the consumer has been around but is now being used on a daily basis.
Low interest rates are creating opportunities, allowing buyers more purchase power while creating a larger pool of buyers. Typically, the fall months are a seasonally slow period for real estate, however, the pending sales for third quarter are also up year to date from the past 2 years first 3 quarters by 18.2%.
The month of September was up 49% from September of 2019, which is a good indication that fourth quarter 2020 will also be a fantastic time to sell!
