Eastman Real Estate & Covid-19

Hello everyone, I’ve been waiting to write a post about the current situation but since it’s an unprecedented situation I wanted to give it some time and see what was actually going to happen and how it was going to affect the real estate market.

This is what’s happened year to date. January and February were strong months, buyers were buying, properties were transferring and inventory was shrinking to its lowest level I had seen in my career. March was looking promising and an early spring was clearly on the way. I was getting calls to talk about house and condo listings, the year was looking to be a good one.

In comes Covid…. slowly but things changed. At first it was activity as normal. Then showings were getting canceled and listings postponed. Then the only showings were with buyers that had to buy, in effect the showing process is streamlined. By the end of March, we closed all of our Coldwell Banker Lifestyles offices. All agents are working from home. With our technology we can do so many things like virtual showings and signing documents online.

This past week I listed 2 homes and both went under agreement in a day or two from the listing date. Low inventory and serious buyers is a good combination for sellers. Although the pace of the market has slowed significantly, transactions are still happening.

It seems everyone is taking precautions and things have changed, maybe forever. We are social distancing, wearing masks and gloves. Just being smart about the situation is a must!! None of us want to get sick or get others sick so I error on the side of caution. If something is not right or safe, it’s not going to happen.

Be well everyone, see you at some point!