Real Estate Market
Mid May, 2020
In the past week, I’ve had 2 closings, wrote 3 offers (1 was accepted), and scheduled 20 showings. Spring is definitely here! Sellers are accepting offers within days of listing their property’s on the market, as per usual this time of year.
…That being said, the elephant in the room remains… There is no way to avoid the trickle-down effect of Coronavirus on the housing market. Here are how showings have been effected in Walworth County, in a side by side comparison of the last 30 days compared to the same date range (4/13 to 5/13) last year, courtesy of ShowingTime.
Here is the Market Summary from the MLS for April 2020 vs. April 2019:
Despite less showings, home sales are only down 2.7% compared to last April. What’s significant here is the drop in new listings. You know what this means? Less Competition! We are still in a “sellers’ market.” There are simply not as many homes on the market as there are ready, willing and able buyers to purchase them. This has been the case for over a decade.
POTENTIAL SELLERS: When it comes to showings & property tours, seller’s can reduce risk of covid-19 exposure by:
- 1) Leaving lights on so no one else has to touch switches.
- 2) Require all visiting parties to sign a covid-19 disclosure release form before providing access information.
- 3) Mandate gloves and masks to be worn by all visiting parties.
Potential Home Buyers – If this quarantine has you hating your home, and you’re ready to move: fear not! There are options:
- 1) Get a pre-approval FIRST! You don’t want to waste your time in a space you cannot afford.
- 2) Get on an automatic MLS search that sends you homes that match your criteria as SOON as they hit the market.
- 3) Take a Virtual Tour first, and THEN see it in person – with gloves and mask – before writing an offer. try zoom or google duo
Follow these links to see the new listings and just sold properties:
01. How long does coronavirus last on different surfaces? See CDC’s answer here.
02. WHAT YOU LISTEN TO MATTERS: My favorite podcast is “Afford Anything,” by Paula Pant. Her PSA Thursday episode on May 7th had an interesting synopsis of the current state of our national real estate market. Take a listen by following this link.
03. WI Business Owners: Here are the Reopen Guidelines for you!
I see recovery written all over the data coming out, what about you? Are my glasses too rose-tinted? I want to hear what YOU think! Reach out, let me know. Stay healthy… ❤ ALWAYS, Annie Z.