As events unfold at the local, state and national levels, Perisson remains committed to keeping our clients informed on the impact of the coronavirus on our local real estate market. We will be providing a weekly snapshot of key market data to give you a better sense of what’s happening in our market, without prognostication or conjecture. Just the facts.
The following are critical market indicators for the Week of Wednesday, March 18th to Tuesday, March 24th.
Not surprisingly, the number of new listings has gone down dramatically, as the Shelter in Place (SIP) directives mean that there can be no open houses or personal showings. It’s interesting to see that there are still new listings going on the market, and we are seeing more offerings of 3D virtual tours. The number of listings going into contract (pending/contingent) and closing escrow is mostly indicative of homes that were already on the market and shown before the SIP took effect.
The coming week may look very different in terms of new listings and homes under contract. Will keep you posted! Stay healthy, and let us know if you need help with anything.