May 2020 Real Estate

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Southeastern Wisconsin on the Rebound

There are always two sides to a story. We have a global pandemic on our hands, but at least summer officially began today. There is no denying COVID-19 is still impacting our real estate market, but the latest stats indicate things are looking up. “Realtor.com®’s May housing data release reveals that the U.S. housing market likely reached its low point during mid-April, with constrained new listings and minimal price growth,” according to Sabrina Speianu, Sr. Economic Research Analyst for Realtor.com.

On Tuesday, our metro-Milwaukee Multiple Listing Service released their Monthly Indicators recapping last month’s market. Here’s what they had to say:

Market Reports: May 2020

While the effects of COVID-19 in the broader economy continue, real estate activity is beginning to recover across much of the country. According to
Freddie Mac, mortgage rates have been below 3.3 percent for more than four
weeks and are hovering near all-time lows, spurring strong interest by buyers
and lifting showing activity up 4% nationally versus a year ago in the final week
of May.
[…]

Buyers have been quicker to return to the housing market in force than sellers,
who have been showing a bit more reluctance to list their homes than is typical
for this time of year. But trends are improving and as states and localities
continue to moderate their COVID-19 policies, real estate activity is expected to
continue to improve in the coming weeks.

Metro MLS. Report © 2020 ShowingTime

As far as real estate in Southeastern Wisconsin goes, we’re still doing worse this year compared to last, but we’re better than last month. April 2020 market reports showed Walworth County was down 50.2% in new listings and 30.6% in closed sales, but up 9.4% in median sales price (compared to April 2019). Follow this link to see the April 2020 Real Estate post.

For the month of May, Walworth County went down 30% in new listings, 43.2% in closed sales, and 2.9% in median sales price. The fact that we had fewer closings, is a reflection of April’s drastic decrease in new listings – there were less homes available to be sold. The decrease in median sales price for the county surprises me, as I’ve seen more cases where properties go under contract for list price or higher, as the right-hand chart above shows (i.e., a 12.5% increase in median sales price for May 2020, compared to May 2019, in the Lake Geneva – Delavan – Williams Bay area).

The story here is a gradual trend upward. We have reason to believe a recovery is underway. Adding to this positive news, showings are up in my county, despite the global pandemic and less available inventory to view. According to ShowingTime, Walworth County had a total of 2,158 showings in May (2020), compared to 2,005 total showings in May of 2019.

You might be thinking, “MORE showings? How is that possible? And, what does this mean?

Personally, I have experienced a spike in demand from buyers in the past month and a half. I’m writing more offers, but facing more competition and not going to the closing table proportionally more often. I suppose there’s nothing like a quarantine to make people antsy and ready to move.

Able buyers: get your ducks in a row sooner rather than later. When the right home comes onto the market, you will need to act fast. In other words, call a lender, heck call two, and get your pre-approval done and out of the way. Also, be prepared for a potential bidding war. I have heard some say the COVID-19 crisis would cause home values/prices to plummet. I’m here to tell you this assumption is incorrect.

Potential sellers: do not miss this opportunity. We do not know how long the odds will stay in your favor. More showings combined with decreased inventory, means you’re statistically more likely to get an offer – and maybe more than one. Based on the principle of supply and demand, when demand is high, but supply is low, prices go up. Therefore, the current market is ideal for sellers right now more than ever.

Stay positive, stay healthy & reach out! ❤ , Annie Z.


ANNIE ZAMBITO
LICENSED REAL ESTATE AGENT
KEEFE REAL ESTATE  |  LAKE GENEVA, WI 53147
PHONE 262.348.3253   |   262.215.1982
EMAIL   azambito@keeferealestate.com  |  anniezrealty@gmail.com
OFFICE   262.248.4492  |  www.keeferealestate.com    


Sources:

May 2020 Monthly Housing Market Trends Report: Key Housing Indicators Begin to Turn Around in May by Sabrina Speianu, Sr. Economic Research Analyst for Realtor.com

ShowingTime Showing Reports

Metro MLS. Report © 2020 ShowingTime

April 2020 Real Estate Housing Market Review: In the Thick of COVID-19

April 2020 Real Estate

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Housing Market Review: In the Thick of COVID-19

The following charts are ShowingTime’s Impact of COVID-9 to Real Estate Showings in Wisconsin & in North America. They reflect the physical activity of our market compared to that of the entire United States, this year compared to last. April was a hard hit month for the whole nation. The month of May seems to be off to a good start for both, but overall Wisconsin is trending more active than the overall country,right now.


Our low-point so far in this COVID-19 pandemic, appears to be April. The Metro-Milwaukee MLS (Multiple Listing Service) just released their monthly report: Market Reports: April 2020. The numbers don’t lie. In Walwoth County, new listings were down by 50.2%, and there were 30.6% less homes sold in April of 2020 compared to last year. The median sales price went up 9.4%, and days on market went down by 6%; however, that doesn’t make up for the lack of inventory and closings. April’s inactivity is reflective of the worldwide shutdown, no doubt.


I started out with the showingtime data because it is hopeful. The Safer at Home order was reversed by our supreme court here in Wisconsin, so businesses are opening back up for the first time in months. There are a handful of precautions in effect in real estate, from COVID-19 consent forms to gloves and masks. While I feel tense and anxious, I can only concentrate on my own actions. I will continue to work safely, and follow the CDC guidelines on how to protect yourself and simply trust others do the same.

What if April 2020 is as bad as our market gets?

Stay positive, stay healthy & reach out! ❤ , Annie Z.


ANNIE ZAMBITO
LICENSED REAL ESTATE AGENT
KEEFE REAL ESTATE  |  LAKE GENEVA, WI 53147
PHONE 262.348.3253   |   262.215.1982
EMAIL   azambito@keeferealestate.com  |  anniezrealty@gmail.com
OFFICE   262.248.4492  |  www.keeferealestate.com    


Sources:

Metro Milwaukee MLS: Local Market Update © 2020

ShowingTime: The Impact of COVID-19 on Real Estate Showings

CDC guidelines on how to protect yourself

Safer at Home order was reversed

Weekly Update

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Market Check-In + Spring Maintenance Tasks

Friday, April 24th marked 30 full days under WI Governor Evers’ Safer At Home Order, where all non-essential businesses were forced to close their doors in alignment with our nation’s efforts to slow the spread of the coronavirus. While real estate is considered an essential business, there’s no denying we have been impacted.

The Impact of 30 Days of “Safer at Home” in Walworth County:

From March 25th to April 24th, 2020, there have been 892 showings in Walworth County. Last year, during the same time frame, there were 1,769 showings. That’s a 50% drop in the number of property showings. Granted this number includes all types of property showings (from condos and single-family homes to commercial property and vacant land). Here’s a graphical breakdown for more clarity:

That being said, week over week, things are looking up. This past week (4/18 – 4/24) we had 242 showings, where as the previous week (4/11 – 4/17) there were 190 showings. Since a property takes anywhere between 30 to 60 days or more to close after accepting an offer, the overall effect on home sales is yet to be determined. However, so far, closings have only dropped to 92% of last years levels. Last year there were 113 single family homes sold in Walworth County from March 25th to April 24th, 2019. This year, from March 25th to April 24th, 103 single family homes have sold. Follow this link to see the listings: Sold in the Last 30 Days


On April 16th, WI Gov. Evers extended the stay-at-home order to May 26th. With that in mind, I thought it would be a great time to offer some spring maintenance tasks and projects to tackle while folks are still stuck in the house.

Springtime Home Maintenance Tasks

  • Clean out your gutters and downspouts
  • Pressure wash your siding
  • Inspect your roof & foundation – schedule repairs
  • Trim/Prune your bushes and shrubs
  • Schedule air conditioner cleaning
  • Clean your windows
  • Check for/repair holes in window screens
  • Reseal deck/porch
  • Paint your house – inside and out!
  • Switch out winter clothes for spring/summer clothes – don’t forget to make donation piles!
  • Spray insecticide along windows and doors, and remove bee hives!
  • Bonus Projects: Paint old tables, hang photos, add more greenery indoors!

Inspired by Spring Maintenance Checklist – More Than Cleaning by HomeAdvisor & Your Spring Home Maintenance Checklist by Family Handyman (houzz)


Slowly but surely, things are improving. As long as we each continue to do our part to stay healthy, we will make it out of this. Please don’t hesitate to reach out if you need anything – groceries, vendor contacts, or even just someone to talk to. I’m here!!

I’m here if you need anything, just let me know!

Stay healthy ❤ always, Annie Z.

ANNIE ZAMBITO
LICENSED REAL ESTATE AGENT    |    KEEFE REAL ESTATE
PHONE 262.348.3253   |   262.215.1982
EMAIL azambito@keeferealestate.com  |  anniezrealty@gmail.com 


Sources:

Safer At Home Order

extended stay-at-home order

Spring Maintenance Checklist – More Than Cleaning by HomeAdvisor

Your Spring Home Maintenance Checklist by Family Handyman (houzz)

Weekend in Wisco!

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Welcome! If you’re looking for something fun to do in Walworth County this weekend, you’ve come to the right place… Have a great Weekend in Wisco!

Weekend in Wisco | February 20th, 2020 | Annie Z Realty | Keefe Real Estate

Here are some great events I found in our neck of the woods for the weekend of Friday, February 21st through Sunday, February 23rd … enjoy!

Multi-Day Events:

                      This weekend (Saturday & Sunday, February 22nd & 23rd) ONLY!!!

                      Ends Sunday, February 23rd!

  • Stolen Sisters @ Crossman Gallery (University of Wisconsin – Whitewater)

                      Ends Sunday, February 29th

                      Ends Sunday, February 23rd!

                      This Weekend & Next Weekend – ONLY!

                      Ends Sunday, February 29th

                      Call for availability 800-225-5558

                      Purchase tickets ONLINE ONLY ß follow link– cannot purchase on site

It is bitter cold outside today, but temperatures are supposed to go up tomorrow! Follow this link for the weather forecast.

Friday

Saturday

Sunday

  • 10 AM – 4 PM LBA Home Improvement Expo 2020 @ Evergreen Country Club (Elkhorn)
    • ALSO open 10 AM – 4 PM on Saturday, February 22nd
  • 11 AM – 2 PM the 11th Annual Bridal Show @ Veterans Terrace (Burlington)
  • My birthday! No, I’m not throwing a party – but I will in fact be turning 33! My OCD loves multiples of 3 AND my lucky number is 11 ( 3 x 11 = 33), so I’m pretty pumped!

Follow Link for this Weekend’s Sports Schedules


Open Houses this weekend – extended area:


But wait, there’s more! As per usual, there are plenty of other options of activities going on this weekend. These are just my fav’s… what are you up to?! Leave a comment ~ let me know! I’ll see ya around! ❤ always, Annie Z.

ANNIE ZAMBITO
LICENSED REAL ESTATE AGENT    |    KEEFE REAL ESTATE
PHONE 262.348.3253   |   262.215.1982
EMAIL azambito@keeferealestate.com  |  anniezrealty@gmail.com 


What I’ve Been Up to This Past Week:


Sources include: Visit Walworth County & Facebook Events