As a Realtor, I have lived through many ups and downs in the last 20 years.
Our local supply and demand trend shows that a historic low inventory of homes for sale, coupled with historic low interest rates, will continue to escalate sale prices in the near future.
As of this writing, there are fewer than 100 pre-owned homes to choose from in Lincoln. This is a record low in availability. Of those homes that are selling, half are selling in two days or fewer.
Some national experts predict that things will wane in fourth quarter 2021, mostly due to foreclosures that have been delayed, coming up for sale. Many homes that are under duress and would normally enter the market are delaying foreclosure procedures because of COVID-19 federal “no foreclosure laws,” which may run out later this year.
If and when those delinquent homes flood the market, some predictors say inventory will go up and prices will go down. That, plus historical low interest rates, are predicted to rise.
Historically, Lincoln has been immune to major foreclosures and fluctuations, up or down, so I am not predicting drops in local home values, but maybe a little more of a fair buyer’s marketplace.
Now would be a great time to sell. We would love to do a market analysis to show what your home is worth and suggest anything to add value to your home.