Going Back to Work
After two months of isolation and staying at home with my family I finally returned to work outside showing properties. For that purpose we travelled downtown to see some condo units in the beautiful Liberty Village area. Me and my clients were wearing gloves, putting on masks and keeping a social distance from each other and from other people. We saw lots and lots of people downtown who were not doing the same and were walking in groups not wearing anything at all. The point I am trying to make is that I think it is paramount to keep doing business but only in an environment that is safe for all parties. What sense does it make to go about business risking your life and the life of the people around you? I remember that back in the days when I used to work in manufacturing company earplugs and safety goggles were the absolute musts for everyone entering the facility. The noise and the chance of metal scraps flying at you were a determining factor for using safety equipment. That was the rule and it made a lot of sense. Today’s factor in our society is the presence of the pandemic. To protect yourself you have to use safety measures. I know it is not comfortable sometimes and it might slow you down from doing that normally take you faster to do. If I need to make a set of priorities I think that protecting our loved ones and everyone around us is the most important of all. The rest will come at its own pace. Stay safe.
Please Note That This Analysis Pertains to May 17-May 23.
The activity was Still Very Low For This Season with Only 104 Transactions Although There Was a Small Increase in Activity Compared to Previous Weeks. Same Week Last Year Had 243 Transactions. Sold Price to Listed Price Percentage went Also Up to 98%. Please Note That Three Months Ago The Sold Price to Listed Price Was at 104%. Clearly We Have a More Balanced Market Now.
Please Note That 70% of The Activity Has Been Around The More Affordable Properties Under The 1 Million Dollars Mark. Sold Price to Listed Price There was at 99%. The more Expensive Properties We Saw a Sold Price to Listed Price at 98% Which is a Slight Increase From Previous Weeks. This is Important to Note as We See More and More People Coming Out and Businesses Open. Will This Lead to More Confidence in The Market? We, Will Need to Continue Monitoring This Trend for The Next Several Weeks.
Judging From This Weeks’ Numbers It Seems Like The Trend of Softening Prices in Properties Above 1.5 Million Dollar Has Continued and Accelerated a Bit. Very Low Levels of Inventory Coupled with Low-Interest Rates Helped to Keep The Sold Price From Dropping Even Further in The More Affordable Section of The Market.
Take Care Everyone and Stay Healthy.
I will Keep You Informed…