How is the Real Estate Market Right Now?
Find out the latest info about what is REALLY going on in the local housing market!
The COVID-19 pandemic has challenged the way we do business and forced real estate agents to change and adapt our strategies. Around mid-March, the housing market saw a steep decline in buyer traffic and new listings. This rapid shift caused many to wonder what the real estate market would look like going forward. We are excited to now see homes coming on the market! Listings are trickling in and we are expecting to see many homes listed over the next couple months. This is great news for all of those Buyers that have been out there with very little to see.
With everyone staying home, we are still getting the same amount of online traffic for listings as past Spring markets, and the latest reports are indicating that showing activity is also increasing rapidly.
Below shows numbers for the week of 4/20-27 compared to week of 4/27-5/4. Number of new listings that hit the market the first week was 643, compared to 800 new listings just a week later! We would also like to point out the number of showings was 1633, then 1932 just a week later. These are strong indications that some of the pent up inventory is starting to hit the market. ShowingTime recently published a report that scheduled showings have been increasing week-over-week since mid-April. This rebound is a 39% growth from the decline two weeks prior.
GREATER CINCINNATI MARKET
NORTHERN KENTUCKY MARKET
As an agent, and a trusted advisor, it’s our responsibility to make sure clients are informed about the current market conditions so that they can make the right real estate decisions based upon accurate local data. It is also our top priority to use virtual practices and recommended precautions to ensure a safe process. Reach out to learn more about how our digital media strategy, google analytics reports, MLS data, and Coldwell Banker Zoom conferences are helping us to effectively sell a large number of homes during the pandemic.
Happy Mother’s Day to all of the Moms out there! Don’t forget to enter our May Giveaway before 5/9.
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