In 2020, we had 29 sales in The Village. This is down from 2019’s total of 44 sales. With this decrease in inventory coupled with historically low interest rates, and buyer demand at an all-time high, this translated to significant growth in average sales prices across all home sizes, and set new sales price records. Average Days on Market remained low, with many homes receiving multiple offers and above the listed price. New records were set for 3 bedroom, 1 bath homes at $738,000, as well as 3 bedroom, 2 bath at $765,000. We had 3 sales over $800,000 with the highest 4 bedroom, 2 bath home setting a new neighborhood record at $850,000! Overall, values for The Village increased approximately 7.59% year over year.

Interest rates in 2020 dropped into the 2.5% bracket, down from the average of 4.75% in 2019 (which was still considered extremely low at the time). This allowed buyers to qualify for larger loans, and sellers to refinance either decreasing payments or shortening loan terms.