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Real Estate Market Update for April 8, 2020

As we head into the 3rd week of Sheltering in Place, there continues to be some anxiety about the future. The uncertainty of what comes next can be overwhelming at times. With everyone honoring Social distancing and staying at home, the hope is that this health crisis will end sooner than later.

The Real Estate Market has ground to a near halt as we can no longer physically show homes at this time. No one can predict when this will change. However, what is happening is we are beginning to pivot and become more familiar and comfortable with virtual listing appointments and virtual showings. As this becomes more common,  I believe that there will be an uptick in business. 

I am happy to report that we are signing listing paperwork at the same rate as we did a year ago at this time and likewise with buyers. This tells me that there are a lot of sellers that intend to sell this year and there are a lot of buyers that intend to buy this year. My prediction at this time, based on what I currently know, is that when the Shelter in Place is lifted, there will be a surge of activity as all the sellers and buyers in waiting will come to the market. This is a great time to get your home ready, so that when the market opens up, you will be ready to go.

I remain optimistic. There are always buyers that have to sell and sellers that have to sell. My team has adapted and developed ways  to be there for them and assist them through this  challenging time in a safe manner.

As always, if you have specific questions or concerns, do not hesitate to reach out to me.

Stay safe and healthy out there.
-Martin

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