The COVID-19 pandemic is serious, but people are still buying houses. In fact, the virus has made the pre-existing problem of too few homes available for sale even worse. It is not a bad time to sell, even with all the restrictions in place. Sellers able to accommodate showings actually have an advantage right now because inventory is so low in many price bands and sub-markets.
Contract data from the first three months of 2020 showed exceptionally high levels of buyer activity.
Listing data from the first three months showed a similar trend through the first week of March. But once the virus arrived sellers increasingly decided to hold back on listing.
Over the past few weeks, we saw multiple examples of the sellers getting strong interest in their listings. Homes that presented well, and that were priced appropriately, received and accepted offers. Due to the lack of options for buyers, some of the offers were quite strong.
The trick is making sure the home still looks good online. That is still where buyers begin their search, and it is more important that ever with social distancing restrictions limiting their ability to tour properties on a whim.
Professional photographers aren’t allowed, but I do pretty well with my camera, flash, and tripod. I’ve also been filming video walkthroughs to allow buyers to take a virtual tour. An online presence and social media advertising is more important than ever, so our experience designing and promoting via Facebook allows us to continue that side of our marketing plan uninterrupted. We’ve also transitioned to virtual meetings via Zoom and other platforms when appropriate.
Most important of all, we work hard to make sure our clients are comfortable with each step of the process. Health and safety is the top priority.
Please reach out if you are curious about what selling your home might look like in the current environment. Maybe now is the right time for you, maybe it’s not. We promise to give an honest assessment of your situation, and our best recommendations.