Welcome to another edition of Mark’s Market Update! This week we have a special guest.... our dog Gus
It’s been a crazy last month, but we hope everyone is doing well and staying healthy. Most importantly we want to thank all first responders and the front line workers. We appreciate you!
Now real estate... What is happening in the market? When looking at the market, April 1st through April 20, comparative 2019 versus 2020, In St. Louis County, St. Louis City, Jefferson County, and St. Charles, for unit closings.
1. Consistent in all markets down approximately 16%
2. As the April closings relate to early/mid March under contracts; we are not going to know the full market impact of COVID 19 until May closing data is analyzed.
3. New listing inventory is down approximately 60% from April, which for sellers is good! Those sellers on the market have way less competition and we are seeing those homes sell very well!
4. It has certainly not shifted to a buyers market, it is still a sellers market, as a result of continued buyer demand and low inventory levels .
5. If you are thinking about selling absolutely get your home on the market!
6. If you’re looking to buy, there are still great opportunities and over the next few weeks we are going to see inventory levels rise.
7. We are using FaceTime, Zoom, Youtube Uploads and other video technology to help show houses that are for sale to prospective buyers, and meeting with prospective sellers and preparing their homes for sale. We are doing virtual open houses and allowing the real estate business to move forward. “It’s a great opportunity to use the technology that we have to service our clients,”
If you have any questions about buying, selling, investing, don’t hesitate to call, email, or text.
Lastly, we are thrilled to have these thank you signs all over St. Louis, St. Charles, and Jefferson County. If you want one for your yard, we would be happy to get you one! Just PM us or text us THANKYOUSIGN to 314-627-0866 and we will deliver one in the next couple of days!
Have a fantastic day, and everyone stay healthy.