It’s my belief that right now is the perfect time to list a home. The stock market appears to be stabilizing, more states are beginning to reopen, and families are reconsidering real estate priorities. In South Florida, we’re seeing a deluge of Northeastern buyers retreating to Florida’s shores in search of a healthier lifestyle (and no state tax!). Data and my own personal experience is demonstrating that home-buying demand is coming back, I’m increasingly fielding buyer calls and scheduling home tours.
Sellers who take the plunge during this critical rebound phase will undoubtedly be rewarded. This belief is shared firm-wide at Compass and by many of the top brokers around the country, as reported recently by CNBC. If you’re considering putting your house up for sale right now, you’re not alone. In fact, Redfin has reported that new listings have increased every week for the last month. I anticipate a true deluge of listings to flood the market once the world reopens 100%, therefore listing now while there’s still relatively lower activity ensures that your property stands out.
It’s also important to note that the buyers who are looking right now tend to be highly motivated. WSJ Mansion and colleagues have even reported a significant rise in clients buying sight unseen, relying heavily on agent descriptions and VR. While a common practice amongst international buyers, this is becoming more prevalent nationally as buyers seek a more quarantine-friendly residence or fulfillment of a job related relocation. And MJB Partners is conducting between 10-20 live showings per week (and rising steadily!), armed with all the proper PPE and social distancing etiquette. Our current buyers are bullish, particularly in reaction to increasing competition in a low inventory environment. Home – whether its style or location – is more important than ever.