2019 was one of the strongest sales years we’ve had in recent memory. Total sales volume for the Flex MLS of all types of properties was over $834 Million. For the time period January – May of that year, there were over $269M in sales.
2020 suffered, of course, but the sales volume was still over $680 Million, which was about a 18% overall drop in sales volume in the market, with about $211 Million in sales occurring for the same January to May timeframe.
2021 has rebounded remarkably. To date, there have been $358 Million in sales for the January to May time period, which is a 33% INCREASE in sales volume over 2019!! In our office, we have already sold more than the whole year of 2020, and fast approaching the total sales volume of 2019.
The high-end luxury market is also extremely strong. 2019 saw 37 sales between $1-$2M USD, and 15 sales over $2M. 2020 had a 50% cut in sales in those categories, with only 19 sales between $1-$2M USD and only 6 sales over $2M USD. HOWEVER, SO FAR from January to May, 2021 has had 35 sales between $1-$2M USD and 5 over $2M USD!
The market seems to have benefited remarkably from all of what we have gone through. Buyers are buying for a number of reasons: (a) they are now able to work remotely; (b) they are retiring early; (c) they are permanently moving; (d) they are cashing in from their earnings in the stock market; and/or (e ) they are taking advantage of low interest rates and refinancing their properties. And it would seem that as travel opens up even more, that there will be an expansion of this process. So it would appear that easily through this year and likely into next year, that we will see this trend continue.
For further details or to start looking for options, please don’t hesitate to contact me .
