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Home Design & Remodeling Trends for 2021

5 Inspiring Home Design and Remodeling Trends for 2021

We’ve all spent a lot more time at home over the past year. And for many of us, our homes have become our office, our classroom, our gym—and most importantly, our safe haven during times of uncertainty. So in 2021, it’s no surprise to see that designers are emphasizing soothing color palettes, cozy character, and quiet retreats.

To help inspire your design projects this year, we’ve rounded up five of the hottest home trends. If you plan to buy, list, or renovate your property in the next few months, give us a call. We can help you realize your vision and maximize the impact of your investment.

1. Uplifting Colors

Colors are gravitating toward warm and happy shades that convey a sense of coziness, comfort, and wellbeing. This year’s palettes draw from earthy hues, warm neutrals, and soothing blues and greens.[1]

While white and gray are still safe options, expect to see alternative neutrals become increasingly popular choices for walls, cabinets, and furnishings in 2021. For a fresh and sophisticated look, try one of these 2021 paint colors of the year:

  • Aegean Teal (coastal blue) by Benjamin Moore
  • Urbane Bronze (brownish-gray) by Sherwin-Williams 
  • Soft Candlelight (muted yellow) by Valspar 

2. Curated Collections

After a decade of minimalism, there’s been a shift towards highly-decorative and personalized interiors that incorporate more color, texture, and character. Clearly-defined styles are being replaced by a curated look, with furnishings, fixtures, and accessories that appear to have been collected over time.[2]

This trend has extended to the kitchen, where the all-white fad is fading in popularity. If you’re planning a kitchen remodel, consider mixing in other neutrals—like gray, black, and light wood—for a more custom, pieced-together feel.[3]

3. Reimagined Living Spaces

The pandemic forced many of us to rethink our home design. From multipurpose rooms to converted office/closets, we’ve had to find creative ways to manage virtual meetings and school. And designers expect these changes to impact the way we live and work for years to come.

Some home builders are predicting the end of open-concept floor plans as we know them.[4] Instead, buyers want cozier spaces with more separation and privacy. Cue the addition of alcoves, pocket doors, and sliding partitions that enable homeowners to section off rooms as needed.[3]

4. Staycation-Worthy Retreats 

With travel options limited right now, more homeowners are turning their vacation budgets into staycation budgets. Essentially, recreate the resort experience at home—and enjoy it 365 days a year.

To give your bedroom that “boutique hotel” look, start with a large, upholstered headboard in a rich color or pattern. Layer on organic linen bedding and a chunky wool throw, then add a pair of matching bedside wall lights.[5] In your bathroom, try a curbless step-in shower and freestanding tub for a modern and spacious feel.[3]

5. Outdoor Upgrades

From exercise to gardening to safer options for entertaining, the pandemic has led homeowners to utilize their outdoor spaces more than ever. In fact, backyard swimming pool sales skyrocketed in 2020.[6] But a new pool isn’t the only way to elevate your outdoor area this year.

Pergolas are a relatively quick and affordable option to add shade and ambiance to your backyard.[3] Another hot trend? Landscapers are reporting an increase in front yard enhancements, including porch additions and expanded seating options. These “social front yards” enable neighbors to stay connected while observing social-distancing guidelines.[7]

DESIGNED TO SELL

Want to find out how upgrades could impact the value of your home? We can share our insights and offer tips on how to maximize the return on your investment. Contact us to schedule a free consultation!

Sources:

  1. Good Housekeeping  -
    https://www.goodhousekeeping.com/home/decorating-ideas/g34762178/home-decor-trends-2021/
  2. Homes & Gardens – 

          https://www.homesandgardens.com/news/interior-design-trends-2021

  1. Houzz – 

          https://www.houzz.com/magazine/36-home-design-trends-ready-for-takeoff-in-2021-stsetivw-vs~142229851

  1. Zillow -
    https://www.prnewswire.com/news-releases/the-end-of-open-floor-plans-how-homes-will-look-different-after-coronavirus-301080662.html
  2. Homes & Gardens – 
    https://www.homesandgardens.com/spaces/decorating/bedroom-trends-224944
  3. Reuters -
    https://www.reuters.com/article/us-health-coronavirus-pools/pool-sales-skyrocket-as-consumers-splash-out-on-coronavirus-cocoons-idUSKCN2520HW
  4. Realtor Magazine -
    https://magazine.realtor/daily-news/2020/12/09/4-outdoor-home-trends-that-may-gain-steam-in-2021

Essex County Febdruary Housing Report 2/8/2021

Essex County February Housing Report 2/8/2021 - Covid 19

Inventory remains at record low levels, Prices up strongly year over year, but Price Resistance Month over Month for Singles and Condos.

Month Over Month, Jan 2021 vs December 2020

  • Median Sales Prices Down for Singles and Condos, Up for Multis:
 Single Families -2%; Condos -2.1%; Multi-Families +4.7%

  • Unit Sales Plunged for Singles, Condos and Multis: 

    Single Families -40.8%, Condos -37.6%, Multi-Families -29.4%.

  • Active Listings (Inventory) Continue to Plummet: Single Families -33.1%; Condos -27.2%; Multi-Families -35.7% - record low inventory

Year Over Year, Jan 2021 vs Jan 2020

  • Median Sales Prices Up Double Digit: Single Families +11.4%; Condos +10.9%; Multi-Families +11.1%

  • Unit Sales Up: Single Families +0.9% and Condos +19.5% and Multi- Families +20.3%.

    • Number of Active Listings Plunged: Single Families -59.4%; Condos -47.0%; Multi-Families -44.1% - record low inventory

 
To view data for every Essex County town, go to:  http://www.sullivanteam.com/Properties/Reports/Public/Charts.php
 
To dowload the full Housing Report go to: http://sullivanteam.com/pages/EssexCountyHousingReports
 

Essex County Annual Housing Report: 2020 vs 2019 & 2019 vs 2018

Essex County Annual Housing Report 1/23/2021 - Covid 19

For the comparative years: 2018 vs 2019 and 2019 vs 2020:

 

Median Sales Prices rose at an accelerated pace

2018 vs 2019, Median Sales Prices Rose:

+4.4% for Singles; +6.4% for Condos and +9.1% for 2-4 Units

2019 vs 2020, Median Sales Prices Rose:

+13.2% for Singles; +10% for Condos and 14.4% for 2-4 Units

 

The Number of Active Listings declined: 

2018 vs 2019, Change in Number of Active Listings (weighted average):

-5.7% Singles; +5.4% Condos and -19% for 2-4 Units

2019 vs 2020, Change in Number of Active Listings (weighted average):

-35.7% Singles; -26.1% Condos and -26.5% for 2-4 Units

 

Months of Inventory Fell (6 months is a balanced market):

2018 vs 2019, Change in Months of Inventory:

-10.7% to 2.5 months for Singles; + 4.3% to 2.4 months for Condos and -14.3% to 2.4 months for 2-4 Units

2019 vs 2020, Change in Months of Inventory:

-32% to 1.7 months for Singles; -25% to 1.8 months for Condos and -8.3% to 2.2 months for 2-4 Units

 

Essex County Housing Report September 2020

Essex County September Housing Report 9/13/2020 - Covid 19

 
Month Over Month, August 2020 vs July 2020
1. Median Sales Prices Up for Singles but Flat for CC and MF: Single Families +5.5%;  Condos +0.4%;  Multi-Families +0.9%
2. Unit Sales Slow: Single Families Down -1.6%; Condos Up 3.0%;  Multi-Families Down -6.0%
3. Number of Active Listings Continue to Drop by Double Digits: Single Families -11.8%; Condos -12.3%; Multi-Families  -14.7%
 
Year Over Year, August 2020 vs August 2019
1. Median Sales Prices Up Double Digit:  Single Families +15%; Condos +11.8%;  Multi-Families +10% 
2. Unit Sales were Mixed: Single Families -10.8%; Condos +1.3%; Multi-Families -33.7%
3. Number of Active Listings Plunged: Single Families -47.7%; Condos -38.1%; Multi-Families -48.8%
 
To view data for every Essex County town, go to:  http://www.sullivanteam.com/Properties/Reports/Public/Charts.php 
 
To dowload the full Housing Report go to: http://sullivanteam.com/pages/EssexCountyHousingReports
 
 

Essex County Housing Report July 2020

 

Essex County July Housing Report 7/9/2020 - Covid 19

 
Month Over Month, June 2020 vs May 2020
1. Median Sales Prices Have Big One Month Gains: Single Families +8.2%;  Condos +4.5%;  Multi-Families +7.6%
2. Unit Sales Have Big Moves: Single Families Up 18.1%; Condos Up 63.8%;  Multi-Families Down 14.8%
3. Number of Active Listings Mixed: Single Families Down -3.5%; Condos Up 1.4%; Multi-Families Down -19.4%
 
Year Over Year, June 2020 vs June 2019
1. Median Sales Prices Up:  Single Families +7.1%; Condos +11.3%;  Multi-Families +9.0% 
2. Unit Sales Plunged: Single Families -26%; Condos -18.4%; Multi-Families -44.6%
3. Number of Active Listings Plunged: Single Families -45.6%; Condos -34.8%; Multi-Families -50.9%
 
To view data for every Essex County town, go to:  http://www.sullivanteam.com/Properties/Reports/Public/Charts.php 
 
To dowload the full Housing Report go to: http://sullivanteam.com/pages/EssexCountyHousingReports
 
 

NAR, Existing March Home Sales Dip, Prices Up 8%, Inventory Drops to 3.4 Months

 

https://bit.ly/2yEaakK

Despite a Dip in March, Home Sales Push Ahead

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While existing-home sales dipped in March as the COVID-19 pandemic sparked stay-at-home restrictions across the country, they're not far off from the numbers a year ago, and home prices continue to rise.

The National Association of REALTORS®’ monthly existing-home sales—which includes completed transactions for single-family homes, townhomes, condos, and co-ops—dropped 8.5% in March compared to February. Sales were at a seasonally adjusted annual rate of 5.27 million in March—down just 0.8% from a year ago.

All four major regions of the U.S. reported a dip in sales last month. The West saw the largest drop, down 13.6% in March compared to February.

“Unfortunately, we knew home sales would wane in March due to the coronavirus outbreak,” says Lawrence Yun, NAR’s chief economist. “More temporary interruptions to home sales should be expected in the next couple of months, though home prices will still likely rise.”

Home prices remain strong, even early in the pandemic. The median existing-home price for all housing types in March was $280,600, up 8% from a year ago. Also, home prices rose in every region of the U.S. last month.

REALTORS® are still finding ways to get sales done amid social distancing and stay-at-home measures aimed at slowing the spread of the coronavirus.

“We have seen an increase in virtual home tours, e-signings, and other innovative and secure methods that comply with social distancing directives,” says Vince Malta, NAR president. “I am confident that REALTORS® and brokerages will adapt, evolve, and fight, ensuring the real estate industry will be at the forefront of our nation’s upcoming economic recovery.”

Here is a closer look at additional housing indicators from NAR’s report, reflecting March housing data:

Housing inventory: Total housing inventory at the end of March totaled 1.50 million units, up 2.7% from February but down 10.2% from a year ago. Unsold inventory is at a 3.4-month supply at the current sales pace.

“Earlier in the year, we watched inventory gradually tick upward, but with the current quarantine recommendations in place, fewer sellers are listing homes, which will limit buyer choices,” Yun says. “Significantly more listings are needed and more will come on to the market once the economy steadily reopens.”

Days on the market: Properties stayed on the market an average of 29 days in March, down from 36 days in February and down from 36 days in March 2019. Fifty-two percent of homes sold in March were on the market for less than a month.

First-time buyers: First-time buyers comprised 34% of sales in March, up from 32% in February and from 33% a year ago. “Despite the social distancing restrictions, with many REALTORS® conducting virtual open home tours with mortgage rates on the decline, a number of first-time buyers were still able to purchase housing last month,” Yun says.

Investors: Individual investors or second-home buyers purchased 13% of homes in March, down from 17% in February and down from 18% a year ago. Investors tend to account for the biggest bulk of all-cash sales. All-cash sales comprised 19% of transactions in March, down from 21% a year ago.

Distressed sales: Foreclosures and short sales comprised 3% of sales in March, unchanged from a year ago.

Regional Breakdown

Here’s how existing-home sales fared across the country in March.

Midwest: Existing-home sales decreased 3.1% in March, reaching an annual rate of 1.25 million. Sales were down 4.2% from a year ago. Median price: $219,700, up 9.7% from a year ago.

Northeast: Existing-home sales dropped 7.1% in March. Sales were at an annual rate of 650,000, a 3% decrease from a year ago. Median price: $300,400, up 8.3% from March 2019.

South: Existing-home sales fell 9.1% to an annual rate of 2.29 million in March, up 0.9% from a year ago. Median price: $245,100, up 7.5% from a year ago.

West: Existing-home sales dropped 13.6% to an annual rate of 1.08 million in March, a 0.9% decline from a year ago. Median price: $420,600, up 8% from March 2019.

Essex County Housing Report February 2020

February 2020 Housing Report: 

Month Over Month: Unit Sales and Active Listings were down double digit for all categories.
Prices rose for Singles and Multies but fell for Condos.   
 
Year Over Year: Prices were up for all categories.  Unit Sales were down for Singles and Multies and were flat for condos.  
Active Listings were down double digit for all catagories.  
 
Mortgage Interest rates remain low and MA Unemployment is at a record low.
 
To view data for every Essex County town, go to:  http://www.sullivanteam.com/Properties/Reports/Public/Charts.php 

To dowload the full Housing Report go to: http://sullivanteam.com/pages/EssexCountyHousingReports

 

Essex County Housing Report January 2020

January 2020 Housing Report:

 
Month Over Month: Unit Sales were Up and Inventory was down for all categories;  Prices were down for SF,  flat for CC and Up for MF.  
 
Year Over Year: Unit Sales were Up, Prices were Up and Inventory was down for all categories
 
Mortgage Interest rates and MA Unemployment remain very low.
 

To view data for every Essex County town, go to:  http://www.sullivanteam.com/Properties/Reports/Public/Charts.php 

To dowload the full Housing Report go to: http://sullivanteam.com/pages/EssexCountyHousingReports

 

 

Essex County Housing Report December 2019

To view data for every Essex County town, go to:  http://www.sullivanteam.com/Properties/Reports/Public/Charts.php 

To dowload the full Housing Report go to: http://sullivanteam.com/pages/EssexCountyHousingReports

 

Essex County Housing Report October 2019

To view data for every Essex County town, go to:  http://www.sullivanteam.com/Properties/Reports/Public/Charts.php 

To dowload the full Housing Report go to: http://sullivanteam.com/pages/EssexCountyHousingReports