Since last month’s newsletter, so much has changed. Who would have guessed things would look the way that they do? Like most small businesses, we are being affected by CV-19. We’ve seen lending guidelines change and employment changes that have put families’ moving plans on hold. We’ve also changed the way we’ve worked and shown houses. And more specifically, we had an 80% decrease in closings in April for our team compared to April of last year.
While we don’t know how this COVID-19 season/market will end or how it will continue to affect our real estate market, there are some important things we do know. We know that we still love our work and community. We know that everyone on our team is still working full-time and we’re thankful to still be working together. Above all, we know that the most important things in life are still the most important and always will be.
We’re still working, and we’re here to serve you whether it’s now or later.
Clermont Market Update
The most common question we have received in the last 30 days is, “how is the market?” And the answer is: it depends on what part of the market you are asking about. Factors we pay attention to in our market are sold prices, days on market, pending homes/contracts, and homes currently for sale.
In the past 30 days, homes took longer to sell and days on market are increasing overall. With lending and employment changes occurring last month, we saw more transactions fall through, bringing more homes back on the market after being under contract. Through this last month, the number of homes for sale has remained the same. Since there’s a seemingly good match between the number of homes being listed for sale and the number of buyers looking for homes, we’ve seen home values hold steady and expect that to remain the same.