With all of our lives, businesses, and even the world as we know it, feeling like they’re changing by the day, we’re all curious as to what the real effects are going to be. Real estate has been deemed essential so business is carrying on “as usual”, but everyone is taking the proper precautions to ensure the safety of our clients. I wanted to give an update on just how we are taking these precautions and what exactly does the Barberton real estate market look like?
Client safety is everyone’s biggest concern right now. The demand is still there, but people do seem a little less willing to let people into their homes, which is understandable. Real estate agents are offering virtual listing appointments, buyer consults, showings, and open houses. If it is absolutely necessary to show a house in person, we are using face masks, gloves, booties for our shoes, lysol wipes, using hand sanitizer, and asking sellers of occupied homes to leave all doors open and lights on so we can keep touching things to a minimum. Home inspectors are conducting virtual inspections where they go in, do the inspection, and then FaceTime with the buyer to show them their findings. Title companies and notaries are getting creative with signing closing documents. I have seen everything from social distancing with face masks and hand sanitizer to standing on opposite sides of doors and passing papers underneath. We are also seeing appraisals being done by desktop or external only. This is really making everyone get creative and some of the ingenuity will probably be a good thing in the long run.
But, what are the numbers like? Are houses still selling?
The answer is YES! 35 homes sold in Barberton during the month of March. This is up from 25 in February. 32 new listings hit the market, however this is down from 39 in February. The Average Days to Sell and Average Sale Price can be seen in the chart below.
|Month||Days to Sell, Average||Sale Price, Average|
As far as mortgage rates go, they have been all over the board. Things can change by the hour so some lenders are going as far as to have a queue ready to go for when rates drop. That way they can lock these people in at the best rate possible.
Overall, we are taking this day by day. I truly believe that when this is all over, there will be a surge in the market. The demand is still there. Only time will tell.
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