Real Estate Update and COVID-19


Real estate like many things has been impacted due to COVID-19 like almost everything. Our ability to do almost anything has stopped or changed. Nothing looks or happens the same way due to the stay at home order and cancellations. 

Has Real Estate Stopped Too? Stopped, no, impacted yes. The timing of the shut down is not ideal as we are in the middle of the spring selling season. The season was going to be a hot one. It was the opportunity for sellers and buyers to win due to the demand and the low-interest rates. COVID-19 had other plans.

What is Reality?

3 weeks ago for a 7 day period

Number of Properties Listed               817
Number of Home Under Contract.     342

2 Weeks Ago for a 7 day period

Number of Properties Listed              419
Number of Home Under Contract.     244

Last 7 Day Period

Number of Properties Listed              426
Number of Home Under Contract.     221
Palm Beach County Real Estate During COVID-19

As you can see, there are still properties coming on the market and properties selling. Is it the same spring opportunity that we were expecting? No, not even close.

What do you do with this information?

If you want to sell, call us. Now, not when this is over. There is a way to safely market your home and even sell it. Price the property right and make sure that marketing includes a Strong Virtual Selling Process. It takes major marketing money and experience to sell during COVID-19. 

If you want to buy a home,  there will be less competition. If you have job stability then let's talk. There are still multiple offer situations even with COVID-19.

Things are changing and it is important to have a team that understands and adapts to all of the changes. The Treus have your back during COVID-19. 

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