Happy December! Here is the latest news on the Tarrytown real estate market. Year-to-date transactions are still lagging the last couple of years, but continue to close the gap. It will be tough to actually match or exceed last year’s number of sales primarily due to a lack of inventory, but still represents an impressive recovery after the really slow Spring caused by the pandemic and shutdowns.
As I mentioned last month, September was likely a very strong month due to some delays associated with appraisals (not enough appraisers to do all the work) that pushed August transactions into September. October followed the same trends as prior years with things slowing as we head into the fall, but still substantially outperforming prior years. October 2020 at 12 transactions was 50% higher than October 2019 at 8. November showed further slowing and came in at the same number as 2019 at 9.
Active listings continue to lag prior years. November had fewer than prior years (which means a record low number of homes available for purchase), though inventory did not drop off as steeply as we have seen in prior years. The limited inventory continues to have an impact on activity, though.
So as you think about your plans for 2021, and what the market may look like, keep in mind the continued inflow of luxury buyers into the Austin market, and the limited inventory that has been available. These factors are likely to continue next year and could be favorable for sellers. If you’d like to learn more, or are curious what the market value of your home may be, please let me know and I would be happy to put together a market assessment of your home and its potential market value.
Note: All data comes from the Austin Board of Realtors’ MLS report, reflecting activity through November 30, 2020.
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