May 17, 2020
Week 11: Newmarket’s Weekly Pandemic Market Update
Some interesting things happened last week, most notably the number of sales was only 1 fewer than the same date range in 2019, while the number of new listings added to the market was down by 22. This disparity is what is keeping prices up.
The median price was down from last week, but still more than $10,000 above the average of the median prices over then past 11 weeks.
Buyers: Get your finances ready, and if you have a house to sell, make sure it’s ready too. Take the time now to do the little maintenance items you know a REALTOR® is going to tell you to do before listing. I do expect more listings to come, and let me be clear “Good Real Estate knows no pandemic”. Don’t wait on something becuase you think you’ll get it cheaper in a week or two. if it’s a good property, it will sell!
Sellers: You might be concerned about selling your home in pandemic times, but most reputable brokerages have strict policies in place for handling showings, and some agents have even stricter policies to protect their clients. For example, we are present for all showings at our listings to make sure Buyers and their agents are wearing proper PPE and are refraining from excess touching of surfaces.
If you don’t need to know where you are going to move to, you might want to consider a sale now, and get ahead of a wave of listings that is expected to come this summer as things slowly return to “normal”.
If you have any questions, concerns or comments, please feel free to leave them below or to send us a private msg where we can discuss what’s on your mind.
Posted by dtoombs at 6:36 AM