Market Update for March 2020 and 1st Quarter YTD

We hope this information finds you safe, healthy and taking care of yourself and loved ones during this unprecedented time.

Our normal business activities have drastically changed with the banning of open houses, property caravans, price sets, and in-person meetings. We have all the technology in place needed in order to move toward virtual tours, marketing,  and using social media to stay connected. Our affiliations with Leading Real Estate Companies of the World, Luxury Portfolio and Mayfair International have given us even more tools and a broad reach to accomplish what we need to serve our clients.

We are pleased that Real Estate has been identified as an essential service by Homeland Security. This gives us an opportunity to serve buyers and sellers who have the need to buy and sell during this time. We are sensitive to our client’s needs, emotions, and are listening to what feels comfortable to them. We continue to conduct our business virtually, but on those occasions where this is impossible, we are using all safety precautions including social distancing and careful sanitizing.

Our Community is very much on our minds and we continue to do what we can to support it.

Now for this month’s Market Report, the numbers tell the true story.

  • 128 total properties sold in March, 91 homes & 37 Condos
  • The median sales price for a home was $1,330,000
  • The median sales price for condo’s $652,000
  • 3.22 Months of Inventory

Interestingly enough, the same number of properties were sold in February also. I feel the stats for April will be more reflective of how the market may be affected by this pandemic.

Until next time…

March/1st Qtr. YTD Report

Posted on April 17, 2020 at 5:30 pm
Robert Watt | Category: Blog, Market Report

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