Low Inventory Slows Down Home Sales in Easton

The town of Easton had a busy month in January in real estate, but the number of sales dropped in February. The town registered only seven pending sales in February, down from 17 sales in January.

The total closed sales transactions increased to 10 this year, compared to nine in February 2020. These numbers seem low for a busy season in real estate, but the actual reason behind this deceleration is the prolonged low inventory in town.

In February, only 12 sellers decided to list their properties in Easton. This was down 36.8% compared to February 2020. The unusual demand is also shrinking the number of days on the market until sale. Properties listed in February stayed on the market, on average 63 days, down 42.2% compared to February 2020.

Low inventory in Easton might have slowed down the number of sales last month, but it has not stopped buyers from looking for their dream home. This demanding market has driven buyers to act faster once they find the perfect house. The elevated demand for new listings in town has brought the median sales price up 37.6% to $612,125 compared to $445,000 in February 2020. 

After a long cold winter, buyers are anxiously waiting for a blooming spring market in real estate. If you are thinking of listing your property during the spring, here are some tips on how improve your home’s value:

  • Find a Realtor you trust. Realtors offer more than just listing your house. They are with you through the entire process, from pre-listing tips to the closing table. They will also help you to competitively price your house.  
  • Maintain your lawn and landscape. Most buyers drive by the house before they schedule a private tour. Make sure to keep the lawn clean and keep the walkaway free of debris. Well-maintained hedges and shrubs also improve the look of your property. 
  • Maintain your home’s exterior. Keep your house looking like new with a fresh coat of paint every few years. Clean the gutters, replace the roof if needed and make necessary repairs on time. 
  • De-clutter your home. Tour your home as if you were a buyer: what needs to be fixed, stored or painted? Put yourself in the mindset that you will sell fast. So, get ready to de-clutter and start packing. Donate or sell items you will no longer need or use.