Back in college, the word statistics made me bored and quite blah. However, nowadays – when it comes to local Real Estate statistics, we get excited!!!!!!!
This past week (January 31 – February 6), there were:
132 NEW LISTINGS – 30% UP FROM THE WEEK BEFORE! We are still low on inventory however, this helps. If you have been considering selling your home, now is the time. Need to find something else? We can still help!
155 PENDINGS – 31% UP FROM THE WEEK BEFORE. This is great news! People are finding the home they have been looking for!
THERE WERE 1,268 SHOWINGS – 7% UP FROM THE WEEK BEFORE. Even in a pandemic, Arctic temps, and snowmageddon…..we were still out there showings homes!
95 PROPERTIES SOLD, WITH AN AVERAGE OF 74 DOM – 22% UP FROM THE WEEK BEFORE.
Numbers speak for themselves. Hopefully, this helps a little bit in showing you what is going on in the market! Questions? Let us know!
2020 taught Realtors many lessons especially how to adapt with how we showed homes, held Open Houses, and getting your home ready to sell. Before the pandemic, a virtual showing was not as popular as an in-person home showing for us. Open Houses were always in person with no protocols in place unless the host had them in place (we always take safety precautions FYI). Listing appointments were so often, we could not keep up!
Enter the shut down in March 2020…..Realtors were deemed essential workers. This was huge for us. People needed to still find a place to live. Many were uncomfortable to leave their homes, so we adapted and brought the viewings to them! Using a stabilizer tool to keep our phones/cameras still while walking through a property and giving a LIVE tour, helped more than we could have imagined. We have given open house tours like this before however not as interactive. Open houses are still being held with many safety protocols in place: wear a mask, do not touch light switches or door knobs, sign in so contract tracing can be done.
We will continue to accommodate our clients’ needs, making all safety protocols for them our number one priority. Now more than ever, expertise matters.
Once upon a time, in a market not too far away, the was a land of more inventory than buyers. More sellers had their homes on market than buyers who were looking. Fast forward to Present Day. We have many buyers looking for their new home and not enough inventor for them to choose from. I have heard from people asking why this and the answer is….I really don’t know. I DO know that if you are in the market to purchase a new property, be ready to sell your home as the inventory is needed!
Obviously, this is not a fairy tale ending for everyone. The house you love goes on the market and then it’s gone! Our latest market stats (Attached graphic is from the week of January 3-9, 2019 vs. 2020) show how new listings are down however pendings, showings, and solds are up. January used to be the slowest month. Now, it’s the new June!
If you have been on the fence to move to a larger home, downsize, or even want to talk about it, let us know. We can help you get your storybook closing.
The New Oxford Dictionary defines Relocation as: the act of moving to a new place and establishing one’s home or business there. Our version of Relocation is a lot longer and more in depth however, here’s the Cliff’s Notes Version. The Suzanne Miller Team knows relocation – whether moving into the area or out of the area, we’ve got you covered. We deal with many new faces who are new to the area. Some have relocation companies, some do not. Some are referrals from past clients. They know that not only do we help those moving into the area, we help those moving out of the area.
Having us list your home is one of the best decisions you can make. Not only is our company well versed in Relocation, our team is incredibly knowledgeable of the market and how to market your home. There are so many odds and ends to complete from the time you find out you’re transferring – we make it easy on you so you can concentrate on what’s important to you. There are times we have been lucky where a client has moved away and they come back. It means the world to us when they reach out to have us help them make the transition seamless and smooth.
Typically when we mention 2020 – many not so great things happened as Covid took over. Our industry was unsure how this would go. However, when it came to Real Estate, it exploded. We saw the lowest interest rates in history. There were more buyers than inventory. Some of our buyers said it was being home for maybe too long with each other, needing more space.Bottom line – we had the best year ever!
We had more buyers relocating to the area and more buyers deciding that the Greater Peoria Area is where they wanted to remain. We could not have done it without our clients and our team. Thank you for making 2020 a year to raise a glass to. We couldn’t have done it without you!
Please raise a glass and help us say THANK YOU!
Usually this time of year, our market is slowing down. People are getting ready for the holidays and family time, company parties, vacations….Usually, right?
We had a very interesting and not-so-typical year of a Real Estate boom due to Covid. We had more buyers than sellers. Not enough inventory for what the need was. Was it the togetherness? The too much staying at home? How about looking around your house everyday wondering if it was time to either remodel or move? Many of our clients did the same thing. Some decided it was time to upsize, downsize, move back to the area, or even relocate close to family.
All we know is to take it one day at a time. We follow the protocols and safety guidelines.
Listen to your heart and mind – and your Realtor.
Thank you for checking out our website! We are The Suzanne Miller Team – Jim Maloof Realtor. We are a collaboration of 35 years Real Estate experience, crazy stories of what has happened in this market, what is happening….we could write a book!
From Left to Right: Lindsay Nevells, Andy Miller, Suzanne Miller, Brenda Young-Legaspi
The past few months have brought an interesting change to our industry, which brings more change to how we help our clients – whether buyers or sellers. You can call it a “new normal” if you’d like. We don’t know what to call it. With inventory being the lowest we have seen in years, homes are selling quick! there are some that may stay on market longer however that’s the way the market works.
We are grateful for the opportunity to do what we do best: Being a trusted advisor and Ambassador of our community. I am the only one in our group who did not grow up in Peoria. I came here to go to Bradley University, moved back to Louisville for a hot second and decided – let’s move back to Peoria! I came here knowing two people back in 1993. Being away those few months, made me realize I wanted to make my life here….and that’s what I did.
The Greater Peoria Market is larger than just Peoria. There are beautiful towns that surround Peoria to make it an over 350,000 people.
We love it here. We love living here and making it a great place for our family, friends, clients, and community. There is so much to do! Here’s a peek…..
Stay tuned for weekly blog posts from our team. We are working on a couple fun things to help YOU with what’s going on locally as well as relocation tips and ideas for your home. We welcome any recommendations and conversation (as long as it’s family friendly and kind)!
Until next time, stay well and healthy. Cheers to you!