Updated June 30, 2020
During the last extension of the COVID-19 quarantine by Governor Baker in April, Real Estate was designated as an "essential service" due to the impact our business has on local housing in general; and, especially landlords/tenants in particular who rely on each other for year round housing. As a result we have noticed an uptick in the number of showings and new listings hitting the market. That said, the listing prices in general do not seem to take into account that (though our inventory is very low), the number of potential buyers has also diminished due to job losses, drastic stock market fluctuations and the uncertainty of the upcoming season.
This does not mean that, if priced right, Sellers aren't able to quickly find qualified buyers; or, that Buyer's aren't able to secure some great properties at terrific prices. As a result of these factors however it does mean that it is now more important then ever to choose a Broker who continually assesses the market conditions and adjusts accordingly to be sure that pricing remains competitive and that for Buyer clients that they become educated on the plus' and minus' of each area so that when a reasonably priced home comes on the market in the desired location in their price point they will be prepared to submit an offer quickly to beat out other buyers.
To insure the safety of our agents, brokers and clients we take all precautions to insure (the best we can) that no one is exposed inadvertently to the virus. Everyone has to wear gloves and masks and our agents remain outside on the porch to respond to questions etc. We do not (at this time) recommend any sellers (who are living in the home) allow potential buyers or brokers to walk thru but we can instead plan to do a detailed 3D video of the home shot by just one person who will wear protective gear while shooting the video. We feel this is the safest thing to do at this time until the imminent dangers have been mitigated.
To assist Buyers and Sellers during this challenging time, we will update this page every week with the statistics that illustrate the current inventory, sales data and market trends. This information will help you (as a Seller) to better understand what your home is worth; and, (as a Buyer) what you can anticipate paying for a home in the town you have targeted.Stay Safe.
To follow is a recap of the information as well as a link to the full 48 page report if you’d like to have data from all listing categories. If you have any questions about any of the information we welcome you to Contact Us.
Weekly Market Update – Week Ending June 26, 2020
Total Number of Homes Available: 234
Total Number of Listings Available: 316
Number of New Listings:28
Number of Home Under Agreement: 24
Number of Homes Sold: 10