I wanted to share some great news about our real estate market now that we’re a few weeks out from the end of the Stay Home, Stay Healthy, Stay Safe order for COVID-19. The number of showings are almost back up to the pre-closure high in February after about a 63% drop. The next great news is that interest rates are still remaining in the low 3%’s, which is better for affordability.
Demand is slightly lower, which is great news for buyers as it means that there is less competition in the market. It is still a seller’s market, but instead of 15 showings with 6 multiple offers we’re now seeing about 2-3 multiple offers depending on the price point. Inventory is still very low, about 48% below normal inventory levels. Our market is strong, so if you’re considering selling your current home and moving into a new one there’s great opportunities on both sides of the aisle.
We are still operating under CDC guidelines with virtual showings, virtual seller and buyer consultations, and offering 3D virtual tours on our listings. We want to make sure that we are doing whatever you may need so you feel safe and secure. If you have any questions regarding your specific home or needs, please feel free to reach out via our Contact Page, or feel free to text or call me at 480-355-8645.