This past year has been like the "Wild West" of our local real estate market. Residential inventory has dropped to its lowest level in decades, creating an environment where speed and preparation are the only ways to succeed.
The 2021 Market by the Numbers
To understand the intensity of the current market, look at the data we are seeing across the county:
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Record Low Inventory: Currently, there are only 321 available homes for sale in the entire county.
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Rapid Sales: In the last eight months, the median time on market for new listings in Columbia County was just 53 days.
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High Competition: Buyers are frequently competing in multiple-offer scenarios and paying above the asking price to secure a "safe haven" in the country.
Survival Guide for 2021 Buyers
If you are shopping in this frontier, you need a competitive edge. Here is how to stand out:
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Get Pre-Approved, Not Just Pre-Qualified: A pre-approval shows sellers you have already cleared the financial hurdles. It is the gold standard for serious offers.
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Act with Urgency: When you find a home that works, be prepared to move immediately.
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Needs vs. Wants: Concentrate on your "must-have" needs first. You can always add the "wants"—like that gourmet kitchen or expanded deck—at a later date.
The Strategy for 2021 Sellers
For those considering a move, the timing has never been better. With record-low inventory, you face significantly less competition from other sellers.
A strategy that is working for many of our clients is competitive pricing. By pricing a home accurately from day one, we often trigger multiple offers, which can drive the final sale price far above the initial asking price.
The key to success in the "Wild West" is preparation. Opportunities like this don’t happen very often—make sure you have an expert in your corner to help you seize them.
