The chart above is based upon the last 2 years of data for Mariners Village 3. If we look at “Summary of 2020”, 5 properties sold (blue), 3 were for sale at the end of the year (green) and 4 did not sell (red). This gave home homeowners a 42% odds of selling. Homes sold at a rate of .4/month, on average, and there was an 7.2 months supply of inventory.
In 2021, we see a different story. Double the amount of properties sold (11 – blue), 4 homes were for sale at the end of the year. Only 1 home did not sell. Homes sold at about .9/month and there was 4.4 months of inventory available. These numbers give us a 69% odds of selling.
2020 would have been considered a “buyers market”, where there was 6+ months of inventory. 2021 changed to a “seller’s market”, where there is less than 6 months. 6 months of supply is considered a balanced market.
This chart shows the buying patterns for Mariners Village 3. In a typical year, the majority of activity (50%) occurs in the spring and summer months. However, with the pandemic, the spring and summer saw barely any activity and the end of the year had all the activity. Where as, the 4th quarter typically only represents 10% of transactions. So 2020, was completely atypical.
2021 saw a return to a more typical spring and summer sales season, but the market was also busy in the 1st and 4th quarter. The pandemic has thrown off the typical historical patterns
Each dot on this chart represents a sale in Mariners Village 3 for 2021. On average, it has taken 56 days to close a home, for an average price of $668,273. In 2020, it took an average of 65 days. These are averages. A well prepared, well marketed and well priced home should sell quicker and for a higher sales price.
This chart shows us the rough relationship between sales price and square footage.
This “Real Estate Pond Chart” takes the data from the last 2 years and tries to project what the next 90 days will look like. It is estimated, that 2 new listings will come on the market and 3 closings will occur.