Real estate remains an essential industry, along with photographers and stagers. If you have a vacant property, now is a great time to sell. Low-interest rates are keeping buyers in the market and limited inventory is keeping demand high.
If your family or your tenants are concerned about having potential buyers through the property, virtual showings can replace in-person ones. Otherwise, if you have a vacant property or unit, showings can be scheduled like usual. The only caveat is no open houses or overlapping showings are allowed.
One strategy that can alleviate your concern if you are living in or have tenants in the home is: setting aside one day for showings. Open your home up for a 4-6 hour window, provide gloves for everyone, and then clean the property once the showings are complete. Buyers understand these are unique times and they know they need to be prompt about visiting a property.
Everyone’s circumstances are different, so you’ll want to make the best decision for your specific situation. Although the number of showings across the metro has dropped 41.9% in the last month, many properties are still receiving multiple offers. There is no telling what the next few months will bring, but at this point, it is still a seller’s market.
Many sellers are concerned about deals falling through if the buyers lose their employment. This concern is valid and one that may be important to consider when reviewing offers, although we should advise that nothing is guaranteed right now.
Median sales prices are up 6.3% year to date for 2020. Days on the market are down 4.5% or (3 days) for the same time last year. Given the data, the spring real estate market in the Twin Cities appears to be humming along.
If you are ready to list your home and can coordinate safe ways to show the property, there is no reason to delay selling your house. The spring market is in full swing and buyers are ready to write offers. The most popular properties are still receiving multiple offers even during the shelter in place order.
If you are ready to sell your home, we would be happy to jump a phone or Zoom call to discuss how we can help you sell quickly and easily during even the most uncertain times.
Low-interest rates are keeping buyers in the market and limited inventory is keeping demand high in the Twin Cities.