REAL ESTATE 2021 | The Spring Market Has Arrived by Penny O'Brien, Realtor

GET READY! THE SPRING MARKET 2021 HAS ARRIVED

WHAT WE KNOW! According to INFOSPARKS, in our MLS the average sales price has increased +5.6%, year over year. Our months of supply of inventory is down a startling -22%, creating a HUGE pent-up demand. There is only 3.2 months of supply creating a fantastic seller's market. A seller will always negotiate the best price when demand is high & supply is scarce. The shortage of inventory leads to continued appreciation.

When meeting with sellers that want to list in the spring market, I always urge them to consider listing in January, February or March. EVERYONE waits until the end of April, beginning of May which significantly increases the competition. With the possibility of a vaccine being released soon, COVID-19 restrictions easing up, sellers that held off listing in 2020 could list in 2021. While it could be quite a while until we see inventory catch up, a seller should definitely be taking advantage of the market conditions for a quick sale at a great price. The lack of inventory also increases a listing's number of showings! In our MLS the number of showings per listing is up 25% year over year.

If you are thinking about selling, get that house on the market! The time to sell is now!

ABOUT PENNY O'BRIEN

BAIRD & WARNER – One word that consistently comes to clients’ minds when they think of Penny O’Brien is “hustle.” As a Seller Representative Specialist, she loves meeting with sellers to discuss pre-market home improvements and guide them to make their home “showtime ready” when it hits the market. She strongly believes in professional staging and offers it as a complimentary service. With a reputation for “good-looking listings,” she helps clients realize a higher return and quicker sale. Penny says “Staging transforms a home from average to amazing”.

Penny O'Brien Broker, Relocation Specialist and

Negotiation Expert • (630) 207-7001 • penny.obrien@bairdwarner.com