Whatever your feelings about real estate right now, I’d like to make these statistics available to those who want them and need them.
If thinking about real estate doesn’t make you happy right now, that is completely understandable. Please focus on your health, your business, your family. Real estate will be here for you later.
There are people who have current housing needs. For people who need to find a home, or sell a home, in the next few months, we want to continue to be here to support you and to help you meet your goals.
For people who are curious about what is happening in real estate, we want to be here to answer your questions.
The biggest change that we have seen so far is that there are fewer properties on the market, and fewer properties coming to market. Inventory is even lower than our “normal” incredibly low inventory.
When properties come to market, in some places we are still seeing multiple offers and “bidding wars”. In some places we have seen some price drops and properties not selling immediately.
These changes in sales are typically different from one location to another and from one property type to another. As always, there is no one blanket statement that can be applied to every property in every location.
Some products are still selling as if nothing has changed. Some are not.
Here are the summary statistics from March. They don’t show much of a change over prior months or prior years. The more limiting “stay at home” orders came part way through the month and would not be reflected here.
With our clients, we are looking day by day and week by week at the changes in the marketplaces and advising people accordingly.
Sales are still happening. Multiple offers are still happening in some places. In some places, the seller is going to have to make things a little more attractive.
We are here to help if you need help. If you want to forget about real estate for a bit. Enjoy your family and order take out! #shoplocal #shoparlingtonfirst
