Although this is anything but a typical spring, our real estate market continues to offer opportunities for buyers and sellers. Here’s how.

Have you been planning to buy or sell a home, but are wondering how the coronavirus pandemic is going to affect those plans? I’m here today to guide you through what’s happening now and how business is being done in today’s market.

As we move into April, the coronavirus has already played a dominant role in the financial news. Mortgage rates have been dropping all month, which has created a remarkable opportunity for homebuyers.

Another plus for buyers is the reduction in foreign investment, which has reduced the competition in that category. Through February, our inventory remained quite low compared to where it was at this time last year. Furthermore, the number of properties in escrow is up significantly. Aggressive buying has occurred as a result and we have continued to see 400 fewer homes available in each month since November.

It’s still a great time to sell. Buyers are focused on finding the right home and their choices are shrinking. I’m working with families who are focusing on certain neighborhoods because of schools, but their choices are slim to none at the moment.

Even amidst the COVID-19 concerns, real estate business continues. We’ve been providing virtual tours to our clients for years and are now offering virtual open houses for sellers. Buyers will get to see your home without ever having to set foot in it. When they do want to see it in person, we are taking all necessary precautions before and after showings to ensure everyone remains healthy and safe. We sanitize, wipe down light switches, doorknobs, etc, and we’ve found that focusing on the things we do have control over has helped.

If you want to take advantage of the opportunities in the market right now, or if you have any other real estate-related questions, don’t hesitate to reach out via phone email. I look forward to hearing from you.