Is The Real Estate Market Slowing Down?

Question: Have you noticed a change in the real estate market lately?

Answer:

Summer Slowdown is Normal, Likely More Pronounced in 2021

It is normal for the real estate market to slowdown as we transition from the intensity of the spring market into the summer market and we (myself, my colleagues, and lenders I’ve spoken to) have seen that shift over the last few weeks.

I don’t think we are anywhere close to experiencing a market correction, but I do think the change in market conditions from the spring market (which really began in January/February 2021) to the summer market will be more pronounced this year because of COVID.

Buyers More Distracted By Travel/Events

Now that most of our buying population is vaccinated and businesses/events are open, Buyers’ attention is finally being focused on trips, events, and visiting friends & family rather than solely on their home search. Diversions are usually highest in the summer and around the holidays, thus historically slower markets, but this summer and holiday season will be met with an unusually high number of distractions for Buyers (that’s a good thing!).

Asking Prices Catching Up

Another factor in the shift in this summer’s market is that asking prices are finally starting to catch-up, in many cases, to actual market values. During the first 3-4+ months of 2021, the sales data (sold prices) wasn’t there or wasn’t enough to give Sellers the confidence to increase their asking prices 5-10%+ over 2019-2020 prices, which is why we’ve seen such extreme price escalations this year. Now that asking prices are falling more in-line with what the market is willing to pay (based on my experience over the last 4-8 weeks), the number of offers and wild escalations should subside.

What Likely Will/Will Not Happen

Homeowners planning to sell should not worry that the bottom is falling out of the market, but expectations should change compared to previous months. Here’s what I think the shift will and will not look like:

  • WILL result in fewer total offers on competitive homes
  • WILL result in fewer properties selling within the first week
  • WILL result in Buyers negotiating better/more contingencies
  • WILL result in less extreme price escalations
  • Will result in fewer homes listed for sale (likely a 20-30% drop compared to March-May)
  • WILL NOT result in prices falling (prices should stabilize)
  • WILL NOT result in a Buyer’s market

Spring vs Summer, 2016-2019

Let’s take a look at how the Arlington real estate market shifted from spring to summer from 2016-2019 to give some historical perspective. I did not include 2020 because it will always be an outlier that provides little value for historical trends/context. I looked at four data points that I use to measure market conditions:

  1. Percentage of homes that went under contract within one week of being listed
  2. Percentage of homes that sold for at or above the original asking price
  3. Average sold price compared to the original asking price
  4. Number of homes listed for sale

Here is a summary of findings from the charts shared below:

  • Intensity of demand (under contract within a week and homes sold for at or above ask) dropped from the spring to summer season all four years, with the exception of a slight increase in the homes being sold for at or above ask in the summer of 2019 (likely due to a significant drop in supply due to the Amazon HQ2 announcement in November 2018 putting upward pressure on prices all year)
  • The average sold price to original asking price dropped each year except 2019 (remained almost unchanged) suggesting less extreme escalations and more price negotiations
  • The number of homes listed for sale in the summer dropped by about 20-30% each year compared the spring market
VA Market Trends: Arlington vs Fairfax & Loudoun County

Question: How does Arlington’s housing market compare to what you’re seeing in Fairfax County and Loudoun County?

Answer: The Arlington single-family home (SFH) market has been competitive, and prices have increased, but the shift hasn’t been nearly as dramatic as what we’ve seen further west in Fairfax County and Loudoun County.

The Arlington condo market has improved from the end of 2020/early 2021, and prices seem to be coming back, but inventory levels are still much higher than they were in the years preceding the Amazon HQ2 announcement.

Listing Activity Up In Arlington, Normal In Fairfax And Loudoun

The number of SFH listings in Arlington this spring is up noticeably compared to prior years, but the biggest story continues to be the amount of condos being listed for sale. I previously wrote about the historical volume of condo listings we had last fall and that trend has continued through this spring, with the total number of condos listed for sale from March-May significantly higher than any other spring market in the last 10+ years.

The number of SFH listings in Fairfax County and Loudoun County have been consistent with past spring markets, down slightly compared to 2018 and 2019.

Demand Meets Or Exceeds New Supply, Except Condos

Despite higher-than-average listing activity in Arlington, the SFH inventory levels remain very low because there is enough demand to absorb the extra supply. SFH inventory has remained at about one month of supply throughout 2021.

Condo demand has not met the higher-than-average listing activity and condo inventory has steadily increased through the spring, after dropping (and flattening) from 5-year highs this winter. The Arlington condo market has settled at around 2.5 months of supply for the last 6 months, which represents a market that is more favorable to sellers than buyers, but still a significant shift from the post-Amazon HQ2 market with 2-3 weeks of supply for about 18 months.

Demand in Fairfax County and Loudoun County has been exceptionally high and inventory levels remain dangerously low with just 2-3 weeks of supply for nearly the last 8 months.

Prices Are Up (Of Course)

Prices for SFHs in Arlington are up, with the median price of a SFH in Arlington exceeding $1.2M for the first time ever in May. While the prices in Arlington are up noticeably, it’s nothing compared to the massive appreciation seen in Fairfax County and Loudoun County over the last four months where we’ve seen up to 15-20% year-over-year increases in prices throughout both markets.

Condo prices have increased from late 2020/early 2021 and seem to be settling in a bit below pre-pandemic numbers. I didn’t include a chart for condo prices because there’s too much variability and it doesn’t provide much value.

Escalations Over Ask Are The Norm, Likely To Change Soon

This spring, the average SFH in all three markets has closed for 3-4.5% over the original asking price. I expect this number to come down over the next few months as asking prices catch up with what the market is willing to pay and the attention/priorities of buyers starts to shift to other things like travel, events, and seeing family and friends.

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at Eli@EliResidential.com.

Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist.

Best and Worst Months to List a Rental

Question: What time of the year is most and least favorable for putting a property on the market for rent?

Answer: The rental market follows similar seasonal trends as the resale market in that spring tends to be the best time to list a property and the market is slowest during the winter months. For this market analysis, I looked at all rentals in Arlington from 2015-2019 (I kept 2020 out because it’s an anomaly) to determine how the month a property is listed for rent impacts a landlord’s negotiation leverage and the days on market. I split the data into apartment-style properties and detached/townhouse properties to see if there was much variability, but the trends are similar for all property types.

Best Months to List: March – July

Worst Months to List: September – December

The data I looked at to determine the best and worse months are the percentage of the final rental price to the original asking price (indication of how much leverage landlords have), the average days on market, and the percentage of properties rented within two weeks of being listed for rent. These data points provide some of the best indications of how successful you will be renting a property at different times of the year.

While there are clearly certain months of the year that are better/worse to rent, I think it’s also important to note that the gap between the best and worst month(s) is not massive, but it’s enough that landlords should work to put themselves on a spring/early summer leasing cycle and avoid signing leases that expire in the late fall/winter.

If you are a tenant, you can expect the most properties coming to market from May – July and a dramatic reduction in options from October – December.

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at Eli@EliResidential.com.

Cost of an Arlington Bedroom

Question: How much more can I expect to pay for a 5BR house compared to a 4BR house?

Answer: The primary criteria for most buyers is the number of bedrooms, so this week we will break down the cost of detached and condo housing in Arlington by bedroom count. The dataset includes all closed sales since Jan 1 2020 except a $45M sale, River Place Coop, and age-restricted housing. Below are some highlights from the data:

  • For detached homes, the biggest price jump is from four bedrooms to five, with an average price increase of 33.1%
  • The best value for a detached home, with the lowest cost per bedroom, is a four-bedroom house
  • Larger homes are much harder to find in South Arlington, with just 58 homes with five or six bedrooms sold since 2020 compared to 353 sold in North Arlington
  • Nobody builds smaller homes anymore. Of the sold homes built within the last 20 years, zero had two bedrooms, three had three bedrooms, and 33 had four bedrooms compared to 141 and 64 with five and six bedrooms, respectively.
  • Smaller, more affordable homes sell faster with ~70% of two-and-three-bedroom detached homes selling after just 1-10 days on market compared to ~40-45% of five-and-six-bedroom detached homes
  • For condos, going from a two-bedroom to a three-bedroom adds 78.1% and is even more expensive in North Arlington, nearly doubling the cost
  • The number of three-bedroom condos sold is <10% of the number of one-bedroom and two-bedroom units sold
  • If you are looking for a three-bedroom condo on a budget, focus on South Arlington, where the average comes in under $550,000 compared to over $1.7M in North Arlington
  • Expect to pay about 20% more for a property (detached or condo) built in the last 20 years

Hopefully this helps those of you currently searching for a home in Arlington or planning a housing search soon!

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at Eli@EliResidential.com.

Quarterly Review of Arlington/DC Area Real Estate

Question: How did Q1 compare to other quarters and what does that mean for Q2?

Answer: The housing boom has been front-and-center in the national news cycle for about six months now and Q1 blessed many homeowners and builders with amazing results, while inflicting similar levels of frustration on buyers.

Despite the national, regional, and local craziness the Arlington single-family home (SFH) and townhouse (TH) markets actually didn’t look that different in Q1 2021 compared to the last couple of (post-Amazon HQ2) years so the pandemic-related housing boom hasn’t created nearly the systemic shock here as it has in other local markets like Fairfax County and Loudoun County. Months of Supply (measure of supply and demand) for SFH is down 36% YoY for Q1 in Arlington, but over 50% in Washington DC, Fairfax County, and Loudoun County with Loudoun County SFHs down an incredible 73.9% YoY in Q1.

Arlington Quarterly Market Performance

First, let’s take a look at a breakdown of the Arlington SFH/TH quarterly market performance, with some highlights bulleted below:

  • If you’re buying a SFH/TH that has been on the market for 10 days or less, prepare to pay an average of 2-3% over the asking price. 12% of buyers since 2020 have paid 5% or more over the asking price.
  • Since 2020, about two-thirds of SFH/TH properties go under contract in 1-10 days and only 21% have stayed on market for more than 30 days
  • You can expect price escalations on hot properties to be even further above the asking price in Q2 compared to Q1, based on historical data. The only exception to this was in 2020 because Q3 functioned like Q2 due to a delayed spring market caused by the pandemic.
  • Expect about one-third of 2021’s SFH/TH properties to be listed for sale in Q2, the most of any quarter by a significant margin
  • Among SFH/TH properties that went under contract in 1-10 days in Q1, the average sold price of those homes increased 11.8% over Q1 2020. Last year there was a 5.7% increase in average sold price of hot properties compared to Q1 2019.
Contract Year/QuarterAvg Sold to Org Ask (Properties 1-10 Days On)% 1-10 Days on MarketListing VolumeListing % of Annual Total
2016100.7%38.8%1640100%
Q1100.7%38.9%40525%
Q2101.0%46.6%55534%
Q3100.4%34.0%40224%
Q4100.2%31.3%27817%
2017100.9%41.0%1744100%
Q1101.0%47.1%48728%
Q2101.3%46.1%58733%
Q3100.7%36.5%41524%
Q4100.1%28.4%25515%
2018101.1%43.0%1614100%
Q1101.2%50.4%40025%
Q2101.5%48.1%54934%
Q3100.9%39.4%39024%
Q4100.5%31.3%27517%
2019101.9%56.9%1451100%
Q1101.8%63.4%38927%
Q2102.2%61.0%47833%
Q3101.9%54.6%34624%
Q4101.1%43.8%23816%
2020102.2%59.5%1600100%
Q1102.4%65.4%35622%
Q2101.8%58.1%39925%
Q3102.7%63.9%49331%
Q4101.9%50.0%35222%
2021102.7%60.3% 
Q1102.7%60.3% 

Northern VA and Washington DC Market Performance Comparison

As noted earlier, the pandemic created a much sharper change in the real estate markets outside of Arlington because Arlington had already experienced similar changes due to Amazon’s HQ2 announcement in November 2018. Below are some charts comparing the SFH markets (and one comparing the condo markets) in Washington DC, Arlington, Fairfax County, and Loudoun County, with some highlights bulleted below:

  • In 2018 and most of 2019, Months of Supply for SFH in Washington DC, Fairfax County, and Loudoun County was 2-3x higher than Arlington (indicating a more favorable market for buyers). In Q1 2021, Fairfax County and Loudoun County had about half the Months of Supply as Arlington and Washington DC, clearly a sign of buyer preferences for more space, lower $/SqFt, and de-prioritization of commute time and walkability.
  • The most dramatic pandemic-related market shift for Arlington has been the condo market going from the most favorable market for sellers pre-pandemic to a near tie with Washington DC for least favorable, by a significant margin
  • Fairfax County stands out for the huge drop in active SFH home listings, dropping from an average of nearly 2,000 listings/quarter in 2018 to less than 500 in Q1 2021
  • The data suggests relatively little change in average prices in Q1 2021 in Arlington and Washington DC, but I think this is more about the data composition than a reflection of actual pricing because everything I’ve experienced in the market suggests strong price growth in Q1 2021
  • Median days on market for SFH has been below 10 days in all four markets since the pandemic began

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at Eli@EliResidential.com.

The Cost of Land in Arlington

Question: Can you do an update of your 2017 article on the cost of land in Arlington?

Answer: In 2017 I took a look at a dataset focused on the cost of land in Arlington and lot sizes, so let’s take a look at these numbers a few years later and see just how much more expensive it is to snag a square of grass here.

Since 2017, the average lot size on all single-family homes (SFH) sold is 8,515 SqFt or about .2 acres and only five of the 4,428 SFH sold had 1+ acres, with none over 1.15 acres. Just 1.6% of sales were homes with ½ acre or more. 82.4% of SFH sold since 2017 sat on 1/10th – 1/4th acre (1/4 acre is about 11,000SqFt).

The chart below breaks down the average lot size and standard deviation of lot sizes by Arlington zip code based on sales of SFH since 2017. I also added two columns looking at the average cost of a new SFH in each zip code based on 2020-2021 sales. 22206 and 22209 didn’t have enough SFH sales to provide good data.

It’s not easy to determine the average cost of homes that get torn down or have a major remodel, so I used the same methodology as I did in 2017 and looked at the cheapest 15% of sales in each zip, by year, and assumed that these represent sales that were completely or mostly valued for the land. The chart below shows the average cost of the cheapest 15% of SFH sold in each zip, by year. The second chart is the same dataset but looks at the cost per SqFt of the lot.

The biggest downside of this methodology is that it’s not capturing sales of the best lots in certain zip codes, but I think this approach does a pretty good job of capturing average values for most sales where the lot was the entire or majority of the value.

Lots in 22201 are by far the most expensive per SqFt because they’re both expensive (highest average price for cheapest 15%) and small (third smallest average lot size by zip code, the two with smaller lots barely have any SFH lots).

While you’ll pay about $100k more for the average lot in 22207 compared to 22205, you’re most likely getting a larger lot so the cost per SqFt of those lots ends up being similar. The cheapest lots are in 22204 (by nearly $150,000), but the best value, by far, is 22213 with the average lot just $67/SqFt.

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at Eli@EliResidential.com.

Housing Market Performance by Price Point

Question: Are you able to tell how much of the appreciation in the overall Arlington housing market is from homes in the upper or lower price ranges?

Answer: I’ve often wondered if the appreciation in Arlington’s housing market is driven more by the lower, middle, or upper end of the market. My theory, prior to doing an analysis, was that homes in the lower price ranges were appreciating faster than those in the upper ranges, thus affordability was suffering more than any other category of housing.

To test this theory, I split each year into a lower, middle, and upper third and found the median price within each price range (note: the numbers for average prices looked very similar). I split the market into single-family/townhouses and condos for a more accurate picture of actual market behavior.

As it turns out, for the single-family/townhouse and condo markets, the upper third of the market has appreciated more over the last ten years than the lower and middle thirds. As is usually the case, single-family homes and townhouses appreciated much faster than condos during the same period, with single-family/townhouses practically doubling the rate of condo appreciation over the last ten years.

Explanation of Charts: Appreciation and Market Speed

Below you will see charts showing the median price of the lower, middle, and upper price tiers for single-family/townhouses and condos in Arlington over the last ten years. I also included a chart showing the cumulative appreciation for each price tier to highlight when each market experienced the greatest price jumps or most price stability.

The last two charts show the same concept but applied to Days on Market. Specifically, looking at what percentage of homes went under contract within the first 1-7 days on market. I’ve always felt like this metric is one of the best ways to understand how fast the market is moving and the intensity of demand.

All three price tiers show similar speed/intensity of demand over the years, with the only noticeable different being the upper third of single-family/townhouses, which is likely skewed by new construction, which often has a much higher days on market because of how often homes are listed before they’re finished.

I hope you find these charts as interesting as I do! If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at Eli@EliResidential.com.

State of the Arlington and Northern VA Housing Market

Question: How is the real estate market doing so far this year?

Answer: 2020 ended with a surging single-family and townhouse market, especially further west, from buyers looking for more house and yard space, but a struggling condo market from an unusually high volume of condo inventory for sale and tepid condo demand. So what have we seen in the first six weeks of the 2021 real estate  market?

Single-Family and Townhouse Prices Up

The single-family and townhouse market is appreciating even further above where prices settled in 2020, with more competition (double-digit multiple offers). Through deals I’ve been involved in and conversations with colleagues, my unofficial estimate is that many single-family homes and townhouses are selling for 5-10% more than 2020 prices. I’m seeing this type of appreciation at all different price points too.

Condo Market Better, Slow Improvement Expected

The condo market worsened monthly from about June 2020 – November 2020, but reversed course a bit in December and remained slightly improved in January. I see the condo market picking back up at a slow pace and likely to continue improving through the spring, as demand hopefully/probably picks up, but I don’t see a return to the pre-COVID condo market any time soon.

Let’s take a look at some key charts for Arlington and Northern VA (Fairfax and Loudoun County)…

Arlington Months of Supply

Months of Supply is one of my favorite metrics because it combines supply and demand. The lower the Months of Supply, the more favorable a market is for sellers. Housing economists say that a well-balanced market has about six months of supply.

Single-family homes in Arlington hit an all-time low for Months of Supply in December and January, coming in at just a touch over one month, while the condo market has settled into just under 2.5 months of supply, which is about average for Arlington condos, save the two years after the Amazon HQ2 announcement.

New Listing Volume in Arlington

The number of condos listed for sale in January remained high, coming in 66.7% higher than January 2020. The number of single-family homes listed for sale remained stable, with an increase of just 11.9% over January 2020.

Dramatic Shift in Fairfax and Loudoun

If you think buying a house in Arlington is difficult, just try buying a house in Fairfax or Loudoun County, where single-family Months of Supply has dropped below one month to 2-3 weeks! This represents a much bigger shift in market conditions than what we’ve experienced in Arlington, which has been more competitive for longer.

Northern VA Condo Supply

All three Northern VA counties charted below (Arlington, Fairfax, Loudoun) have seen a spike in condo supply over the last 6+ months, but condo absorption has actually increase by enough in Loudoun County to not only offset the increase supply, but cause Months of Supply to drop to 10+ year lows of two weeks. Arlington County and Fairfax County have gone the other direction, with significantly higher Months of Supply.

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at Eli@EliResidential.com.

COVID Impact on Arlington’s Rental Market

Question: How has COVID impacted Arlington’s rental market?

Answer: Recent articles have shed light onto just how much COVID has hurt the apartment rental market in the DC Metro, including this article on rents dropping by 14% in Arlington and this article on rents in DC’s Class-A high-rise buildings dropping ~18%.

I have certainly experienced the difficult rental market in the last 10 months with clients who have struggled to find new tenants for their condos for months, even after significant price reductions. In some buildings, there are double-digit numbers of condos being offered for rent, with little interest.

I have also spoken to many condo owners who are turning to selling units after months of vacancy trying to rent them out, which is one of the reasons for last year’s explosion in condos listed for sale.

I took a look at last year’s rental market for apartments, townhouses, and single-family homes and compared it the previous four years to see how each sub-market performed. There’s a summary of key findings below and a detailed data table to follow.

Note that this only includes properties in Arlington that were rented through Bright MLS. Most commercial rental buildings do not use the MLS and not every homeowner with an investment property rents through the MLS, but the number of properties rented through the MLS is enough to make this statistically reliable data.

Key Findings

  • Condo rentals dropped in price for studios (-10.2%), one-bedrooms (-4%), and two-bedrooms (-1%). If you remove January and February (pre-COVID) listings, the price drops increase further. I suspect 2021 will see an even larger drop in rental prices because many owners are still trying to find a tenant.
  • The average time to rent a unit increased by 50% to two months and tenants negotiated significantly further below the asking price than ever before.
  • Two-bedroom units struggled, but not nearly as much as studios and one-bedrooms units, likely because the 2nd bedroom provides a much-needed home office.
  • COVID had the opposite effect on single-family and townhouse rentals with prices increasing to all-time highs, homes renting faster than ever before, and owners securing prices closer to their asking price than ever before.
  • Rentals of small two-and-three-bedroom houses and large four-bedroom townhouses were in the most demand, with average days on market just 3.5 weeks and some of the highest rental price to asking price ratios of any property type.
  • I expect single-family and townhouse rentals to have an even better 2021 (from the perspective of the homeowner) as people continue trying to get more space, avoid common living, and find buying those homes to be cost-prohibitive and/or too difficult (competitive).
Year ListedAvg RentAvg $/sqftAvg Rent $ to Ask $Avg Days on Market# Listed
Condo/Apartment
Studio
2016$1,409$3.0998.2%42113
2017$1,406$3.0298.7%45129
2018$1,434$3.2398.6%37123
2019$1,462$3.2598.5%31114
2020$1,313$3.0593.1%57146
One Bedroom
2016$1,783$2.3997.4%49553
2017$1,750$2.4497.5%58577
2018$1,886$2.5798.4%50572
2019$1,871$2.6398.1%36684
2020$1,797$2.4895.7%53579
Two Bedrooms
2016$2,519$2.2897.5%59494
2017$2,505$2.2897.3%63489
2018$2,605$2.3497.6%58471
2019$2,604$2.3797.8%46520
2020$2,576$2.3596.3%56469
Detached
Two Bedrooms
2016$2,339$1.9696.6%5658
2017$2,387$2.0097.0%4838
2018$2,435$2.0298.6%4054
2019$2,444$2.1896.8%4846
2020$2,456$2.1798.4%2759
Three Bedrooms
2016$3,030$1.7797.1%51177
2017$3,061$1.6997.5%51188
2018$3,108$1.8297.9%46172
2019$3,152$2.0797.1%35204
2020$3,299$2.1198.8%26182
Four Bedrooms
2016$3,518$1.5196.5%53128
2017$3,658$1.6297.9%46161
2018$3,665$1.7498.6%39149
2019$3,788$1.9296.9%41181
2020$3,883$1.9798.4%35155
Five Bedrooms
2016$4,528$1.2398.4%5645
2017$4,517$1.4598.1%4861
2018$4,553$1.5798.6%4153
2019$4,808$1.7697.2%4065
2020$4,873$1.7998.5%3563
Townhouse/Duplex
Two Bedrooms
2016$2,292$1.7697.7%58170
2017$2,342$1.7797.8%48163
2018$2,364$1.8998.3%39172
2019$2,390$2.0298.1%39213
2020$2,470$2.0898.2%29214
Three Bedrooms
2016$3,393$1.7997.4%60124
2017$3,395$1.8297.7%51156
2018$3,295$1.9198.5%43173
2019$3,378$2.0597.4%37173
2020$3,441$2.0697.1%34189
Four Bedrooms
2016$3,890$1.5698.3%4433
2017$4,051$1.7595.9%6530
2018$4,157$1.6898.6%5137
2019$4,090$1.9699.1%2739
2020$4,110$1.7199.1%2636

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at Eli@EliResidential.com.

10-Year Real Estate Appreciation in Arlington (Interactive Chart)

Question: Do you have any data available on how Arlington real estate has performed over the last ten years?

Answer: A lot has changed in Arlington since 2010. We’re less reliant on the Federal Government for jobs, you can find something to do after 6PM outside of Clarendon, and $1,000,000 definitely doesn’t go as far as it used to. BUT we still don’t have a Rosslyn-Georgetown Gondola or a boathouse; maybe in 2030…

I thought it would be cool to create an interactive chart for everybody to play around with to show how real estate values in Arlington and different Arlington sub-markets have changed from 2010 to 2020. Click on the image below to get to a page on my website that will allow you to see 2010 vs 2020 price changes based on things like zip code, bedroom count, new builds/resale, and more.

Now stop reading and go vote if you haven’t already!