Greetings,
I hope this letter finds you healthy and optimistic for a better year ahead, as I am. Nearly everyone has noticed the frenzied real estate market. People ask me daily about our local experience since this pandemic began so I thought I’d share some year-end statistics to keep you informed. Despite being shut down from in-person showings for March and April, our local market saw increases in both total sales and prices. Since reopening, properties have been selling in hours or days in multiple-offer situations at higher than ever prices. It’s not only buyers from out-of-area buying here, as is often presumed. It’s primarily your friends and neighbors that spent their time at home dreaming about what they could have inside – and outside - their homes that has spurred this whirlwind market.
Our 2020 Experience: When the shutdown started in March, we didn’t know when we’d be able to enter homes again. We began virtual showings, but primarily we encouraged our clients to wait, stay safe, and embrace the time at home to improve their current properties. We shared home improvement tips and hosted two contests to reward do-it-yourselfers for both indoor and outdoor projects. We felt that positivity and a cautious approach was most important, and we loved the response from our followers and friends! When we reopened in May the demand for real estate needs was tremendous! We hit the ground running with new safety protocols in place and completed 74 residential and commercial transactions – a dozen more than last year, in just 10 months. In a year where sales numbers mattered less than ever, we were just so appreciative to resume work and serve our clients again.
The pandemic has caused a shift in priorities for everyone, and we’ve seen it dramatically change what people need and want in a home.
The 2020 Market Stats: Here’s how that played out in actual real estate sales. According to our MLS, from the Capital Region to the Adirondacks, in 2020 the total number of properties listed decreased from 27,436 in 2019 to 24,816. However, despite the reduced inventory, more homes sold: 70% of homes listed were sold, up from 54% in 2019. In addition, the average sale price increased by $25,754 from $242,997 to $268,751. In Saratoga County the average price for a single-family home climbed to $351,899 from $331,734 and homes sold even faster. The tax advantages and local attractions continue to drive buyer demand in Saratoga County homes.
Our 2020 sales were strong, but we’re most proud that we embraced the pause with positivity, and adapted to help our clients reach their goals, while keeping them safe in the process.
Our Approach: As a boutique brokerage we work diligently to stand out among our competition by producing smart, striking marketing materials, creating buzz about all our listings through strategic marketing, networking with fellow realtors through social media and unique broker events, and using creative methods to find homes for buyers. We work proactively and ethically for clients with budgets of all sizes from our office in downtown Saratoga. Every client is a big client to us – and we thrive on making things happen.
We believe success is measured by our ability to give back to our local community each year.
Giving Back: We maintain memberships with the Saratoga County Chamber, the Downtown Business Association, and supported several nonprofits: Upstate NY Autism Alliance, The Dake Foundation for Children, Saratoga County Children’s Committee, Saratoga Regional YMCA, The Incredible Teddy Foundation, Kelly’s Angels, Proctors, Lions Clubs of Greenfield/Saratoga, Catholic Charities, Greenfield Historical Society, plus our local schools, sports teams and fire departments. We continued our annual donation to Shelters of Saratoga in recognition of each home we listed.
Looking Ahead: Buyer demand is stronger than ever and prices are staying steady. It’s quite possibly the best time yet to sell a property, as evidenced by the stats of 2020. Conversely, it’s the most challenging time to buy, but I have proven strategies to get my clients their property while ensuring its value.
As always, I so appreciate your referrals to anyone that I might help to buy or sell this year. Know that their safety and health will be my priority as I guide them through the process. For each referral in 2021 I’ll send you a $100 gift card as a token of thanks for your continued support. It means so much to be your partner in all things home. I wish you a happy, healthy and prosperous 2021!
Warm regards,
Amanda Lampmon
Lic. Real Estate Salesperson
c: 518.366.2040