December 2020 Housing Market

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& Year-End Review

Typically, December is a slow month for real estate. The holidays and new year are seen as dedicated time to rest and recuperate; less activity allows us all to reflect on the past year and prepare for the next. Not this December, however; 2020 was an anomaly to the very end.

Sabrina Speianu, Sr. Economic Research Analyst for Realtor.com® said, ” […] December housing data release reveals that home buyers and sellers were much more active this holiday season compared to last year. Home listing prices continued to increase at double-digit rates compared to last year, fueled by buyer demand, which also continued to snap up homes at a rate almost two weeks more quickly than last year.” (December 2020 Monthly Housing Market Trends Report: Number of Homes for Sale Hits a New Low).

Our local metro-Milwaukee area multiple listing service, MetroMLS echoed a similar message in their latest Monthly Indicators release:

December is normally one of the slowest months of the year but strong buyer demand across most segments of the market, buoyed by near-record low interest rates, continue to drive a healthy sales pace in the face of a new wave of COVID-19 infections and a softening jobs market.

[…]  With low mortgage rates and strong buyer demand in most market segments, the housing market of early 2021 looks to continue the trends we saw in the second half of 2020. Low inventory and multiple offers on in-demand properties and market segments are likely to remain common while the market waits and hopes for a boost in new construction and a surge in home sellers to help provide more balance to the market.

December 2020 MetroMLS Monthly Indicators

Below are the Local Market Reports, by MetroMLS & ShowingTime, for the tri-county area of Walworth, Kenosha & Racine Counties. You’ll notice double digit percentage increases in new listings AND closed sales for December 2020, compared to December 2019. Median Sales price was also higher, across the board. On a hyper-local level, the Lake Geneva/Williams Bay/Delavan area saw a slight dip in the number of new listings, but also the greatest increase in median sales price — which makes sense!

Finally, I wanted to take a more cumulative look at our tri-county area this year. Using the data from Wisconsin Housing Statistics, by the Wisconsin REALTORS® Association, below you’ll see the Number of Home Sales and Median Sales Price for the Kenosha, Racine & Walworth County areas in 2019 compared to 2020. The pandemic impacted our market, significantly, in April and May. However, we surpassed the number of homes sold, and median sales price, every month from June onward, compared to last year.

Hindsight is 20/20! The numbers are in, and the charts don’t lie. Clearly, 2020 is not 2008, and we’re not having a housing market crash. The global pandemic impacted every corner of the economy, including real estate… but only briefly. Interest rates are low, demand is high, supply is low and prices are trending upward — but most importantly, we’re not imploding. All’s well on the real estate frontier.

Sellers: There are still buyers out there! Buyers that weren’t able to get what they wanted in 2020 are going to stay in the market until interest rates increases – which will eventually happen. Don’t wait to list your home, if you don’t have to. Take advantage of this seller’s market!

Buyers: Interest rates are still low, and prices have seemed to stabilize (see last chart above). If you want to buy a home in 2021, get your ducks in a row — ASAP. Have your realtor set you up with an MLS search, and check out all the active and sold homes in your desired area and price point, often. Call your lender and have your pre-approval ready to go before you start seeing homes. This is a “you snooze, you lose” market, so be prepared.

In sum, bring on 2021! Feel free to reach out and ask if you need anything…

Stay well,

ANNIE ZAMBITO
LICENSED REAL ESTATE AGENT
KEEFE REAL ESTATE  |  LAKE GENEVA, WI 53147
PHONE 262.348.3253   |   262.215.1982
EMAIL   azambito@keeferealestate.com  |  anniezrealty@gmail.com
OFFICE   262.248.4492  |  www.keeferealestate.com    



Sources:

December 2020 Monthly Housing Market Trends Report: Number of Homes for Sale Hits a New Low by Sabrina Speianu Sr. Economic Research Analyst Realtor.com®

December 2020 MetroMLS Monthly Indicators by MetroMLS

Local Market Reports by MetroMLS & ShowingTime

Wisconsin Housing Statistics by Wisconsin REALTORS® Association

Weekend in Wisco!

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Happy {almost} Valentine’s Day to you all! Whether you’re looking for something special to do with your significant other, or need an activity or two to shake the winter blues, you’ve come to the right place… Have a great Weekend in Wisco!

Weekend in Wisco | February 13th, 2020 | Annie Z Realty | Keefe Real Estate


Valentine’s-Day Themed Events:


Multi-Day Events:

The 7th Annual Sky Circus on Ice @ Lake Lawn Resort (on Delavan Lake) is this weekend (0nly)!!! Fri., Feb. 14th through Sun., Feb. 16th (follow link for each day’s activity schedule)

Elkhorn Mini Makers Faire 2020 @ Elkhorn High School (Elkhorn) is this weekend (only)!!!  Sat. & Sun., Feb. 15th & 16th

A Maker Faire is a family-friendly showcase of invention, creativity, and resourcefulness. From engineers to artists to scientists to crafters, Maker Faire is a venue for these “makers” to show hobbies, experiments, projects.

Winter Carnival @ Pier 290 (Williams Bay) Fri./Sat./Sun. for 3 more weekends (follow link for this weekends list of family fun)


Here are this weekend’s local events that caught my eye; I’ll see you out and about!

Friday


Technically, it is still winter; I should have expected this snow, but thankfully the temperatures are supposed to go up this weekend. Follow this link for the weather forecast.


Saturday

Sunday


Follow Link for this Weekend’s Sports Schedules



But wait, there’s more! As per usual, there are plenty of other options of activities going on this weekend. These are just my fav’s… what are you up to?! Leave a comment ~ let me know! I’ll see ya around!

❤ always, Annie Z.

ANNIE ZAMBITO
LICENSED REAL ESTATE AGENT    |    KEEFE REAL ESTATE
PHONE 262.348.3253   |   262.215.1982
EMAIL azambito@keeferealestate.com  |  anniezrealty@gmail.com 


What I’ve Been Up to This Past Week:


Sources include: Visit Walworth County & Facebook Events

Weekend in Wisco!

This weekend I plan to check out the nifty, local events listed below; however, do yourself a favor & check out www.VisitWalworthCounty.com yourself! There are so many things going on!

Aside from a couple open houses, there are a few things I plan to check out this first full weekend of September:

  • The 59th Annual Darien Cornfest returns to West Park tomorrow, Friday, September 6th through Sunday, September 8th. Seriously, I love this event. Nothing screams “I love Wisconsin!” louder than FREE SWEET CORN (Saturday & Sunday from 11 am – 3 pm)!! But, of course, there’s tons to do there: Volleyball Tournament; Bingo; Parade; Tractor Pull & much more!
  • The Meats Beer Fest, hosted by Lake Geneva Country Meats and benefitting Open Arms Free Clinic, will be held Saturday, September 7th from 4 – 6 pm. I missed this one last year, and heard it was great; not missing it this year!
  • Not sure how I’ve missed this until now, but the 26th Annual East Troy Bluegrass Festival is this weekend, too! East Troy’s historic village square always holds the best events. Can’t wait to hear some blues tunes!

But wait, there’s more! As per usual, there are plenty of other options of activities going on this weekend. These are just my faves… what are you up to?! Leave a comment below, and let me know!

I’ll see ya around! 🙂

❤ always, Annie Z.

P.S. I know I already posted a Delavan + Delavan Lake post, but I went to the Town of Delavan’s Community Park, and Lake Lawn, with my camera again. Just for fun; enjoy…