How’s the Market? Should I buy or sell a house in this market?

Posted by on April 8, 2020

We are getting a lot of questions regarding the market and whether it’s a good time to be buying or selling a house. The good news is yes! Life events are still requiring sellers to sell, and buyers to buy.

Good houses that are priced right always sell no matter what market we are in.  Yes, showings, new listings, pending transactions, and inventory are down overall compared to this time last year, but houses are still getting listed and still getting sold right now in this pandemic.

A quick review In the western suburbs zip codes 55345, 55391, 55331: there are 9 coming soon listings, 55 new listings since 2/15/20, of which 7 listings or 12.7% are sold subject to inspection, 32 Homes or 37% (of active and pending houses) have pended since 2/15/20, and 10 homes have closed.

Contrary to popular belief, we are not closed.  Some inspectors and appraisers are not open (we know trusted companies that are!), and title companies are open and conducting closings.  We are learning to work within this environment with social distancing: utilizing sanitation wipes, shoe booties, masks and gloves.

Even though we can’t predict the future, we are here to help!

If you want to sell your home:

  • Take advantage of the low inventory and list your home!
  • Take this time to declutter, clean windows, maintain the yard, and paint.
  • Start getting market updates on active, pending, and sold homes in your neighborhood to stay in tune with pricing and lead times.
  • Schedule a zoom or facetime chat with us for a virtual listing evaluation. Give us a quick tour of your home and we’ll review pricing, market data, and ideas for preparing your home!

If you want to buy a home:

  • Request one of our Home Buyer Handbooks that reviews the buying process.
  • Schedule a zoom chat with us to review your wants and needs.
  • Start getting listings in the areas you want to look! Give them a heart to tell us which ones you love.
  • Schedule a day/time to look at homes. Not every seller may allow a showing, but we will personally reach out to the listing agents and discuss what we will do to keep the seller safe and see if we can get it scheduled.

We have a lot of pent up demand and anxious buyers and sellers ready to go.  We are preparing for a very busy May/June/July! Please let us know how we can help!!