Your Cartersville 2021 Real Estate Forecast
Here are my main predictions for what’s coming for our market in 2021.
Looking back at 2020, who would have thought our houses would become this crucial to us? Last year we worked from home, schooled our kids at home, and our houses became the best restaurants (at least for safety reasons). We even learned to cook better! (At least… I tried).
2020 has also made it clear just how much technology has made buying and selling real estate easier. Between Zoom conferences, video walk-throughs, 3D Matterport home tours, and more, the amount of tech at our fingertips has never been as plentiful.
Interest rates make a massive difference, especially since home prices have increased so much.
Looking forward, I have three predictions for 2021’s real estate market:
1. Interest rates will stay around 3%. You can’t beat these rates, and I hope they stay this low for the entire year. Interest rates make a massive difference, especially since home prices have increased so much.
2. More houses will sell than in 2020. For various reasons, many sellers are waiting to put their houses on the market. However, as the vaccines roll out and we start to feel healthier as a nation, more people will list their properties.
3. Rising home appreciation. Home appreciation means how much the value of your home rises compared to what you paid for it. You don’t always know how much your house has appreciated until you prepare to sell it. For example, I have a client right now who originally paid $125,000 for their home seven years ago, and it recently sold for $190,000. Fannie Mae is predicting an appreciation of 2.1%, and the National Association of Realtors is predicting 6%.
I foresee our area leaning toward the higher end because we have so much demand. People love our area, many are moving here, and that’s causing more appreciation.
If you have any real estate questions or predictions, please be sure to pass them on via phone or email. I would love to hear from you and be your real estate resource.