Seeing The Big Picture
It must be hard and uncomfortable to not only be forced to change our habits, our children and our families’ habits but also worry about what is going to happen. Will a vaccine be found? How this pandemic will change our lives? Will we need to wear a mask going forward to an unforeseeable future? How will I look? Those questions are valid concerns that reveal the human tendency to seek answers and worry about the unknown. It is very prevalent now in a time where the lines between our known realities of yesterday and our new and still forming habits have been blurred. In a time like this, it is paramount to remember that there is a difference between what we are able to control and what we cannot. There is no use in trying to figure out where the pandemic came from or was it this country or that country’s fault for example. It is human nature to be curious and questioning but at the same time, we need to channel our energy to build a better tomorrow from today’s situation. What I mean by that is that we need to focus on our actions today, we need to start building new habits, strengthen positive old habits and above all see ourselves as important parts of tomorrow’s recovery. Only if we stay strong in our resolve to be good members of our society, to do everything to protect those around and to care for one another we will be able to triumph and say that the struggle was worth it.
Please Note That This Analysis Pertains to May 03-May 09.
This Week Marks The Seventh Week in which We Note The Effect of The Pandemic on Our Real Estate Market. Activity is Relatively Still Very Low For This Season with Only 99 Transactions. Same Week Last Year Had 265 Transactions. Sold Price to Listed Price Percentage Has stayed at 98%. Please Note That Seven Weeks Ago The Sold Price to Listed Price Was at 105%.
Please Note That Almost 70% of The Activity Has Been Around The More Affordable Properties Under The 1.2 Million Dollars Mark. Sold Price to Listed Price There was at 98%. For The more Expensive Properties We Saw a Sold Price to Listed Price at 96%. This is Usually The Case in a Downturn. Activity Remains in The More Affordable Product and We Tend to See The More Expensive Properties Start To Drop Down in Prices as a Result. We Will Need to Continue Monitoring This Trend for The Next Several Weeks.
Judging From This Weeks Numbers It Seems Like The Market Has Adjusted a Bit to The New Reality and Is Trending Around 100 Transactions a Week. Very Low Levels of Inventory Coupled with Low Interest Rates Help to Keep The Sold Price From Dropping Even Further.
Take Care Everyone and Stay Healthy.
I will Keep You Informed…