What Do the September 2020 Stats Mean for You?

Between this past September and September 2019, single-family home sales rose 50.5% from 107 to 161, and the number of single-family homes that came on the market rose 5% from 152 to 160. Between August and September of 2020, the number of home sales and new listings stayed roughly the same, but the absorption rate fell from 2.5 to 2.3 months.

The biggest month-over-month change is seen in the average days on market, which jumped from up from 36 days in August to 59 days in September. The median price this September was $620,000, which is a slight jump from August ($602,000) and a much larger jump from September 2019 ($497,000).

"If you position your home correctly on the market, it should attract a ton of interest."

If you’re thinking of selling, now’s a great time to do so. Buyers are out there looking to upgrade, so if you position your home correctly on the market (i.e., stage and price it correctly), it should attract a ton of interest. Around this time of year, we normally advise homeowners not to list their homes during Thanksgiving and wait until the new year. This year, however, things have certainly changed. The market is still there, so take advantage of it!

If you’re a buyer, it might interest you to know that mortgage rates are still low. Any mortgage product you look at will range from 2% to 3%. Last year during this time, mortgage rates hovered around the mid-3s.

If you’d like to discuss how these numbers affect your specific situation or you’re interested in buying or selling a home in our South Tampa market, don’t hesitate to reach out to the Bell Henderson Team. We’d love to help you.