Are you curious about the present Real Estate 🏠🏘 Market and what our April Real Estate Report for Wicomico County means to you?
A message 📣from our team leader, Brandon Brittingham:
You may hear things on the news media 📺 as far as the real estate market is concerned, but a lot of times, they’re referencing national real estate 🏘 trends and reporting. And what everyone has to realize is real estate is really local.
“Is now a good time to buy 💵 a house ?” and, “Is now a good time to sell a house with everything that is going on presently?” – Two questions we hear frequently that we are going to cover in this video 🎞 as we integrate these questions based on the local April Real Estate Report for Wicomico County.
What does the April report mean for you if you want to sell your home? 💲
2020 April numbers:
93 ✅ new listings come on, 107 went pending, 77 sold.
Compare that to last year:
April 2019: 149 listings, 105 sold, 119 went pending.
There are some telling things in those numbers.
149 listings in April 2019 and 93 in April 2020. What does that even mean and why is that a big deal?
– Less people have listed their house 🏠 for sale. But we’ve not seen demand go down.
– The demand for the buyer out there is still really, really strong.
So what we’re seeing 👀 is if a house is priced accordingly, in certain price ranges in Wicomico County and you put it on the market – it’s getting contracts, in 24, 48 hours, even with multiple offer situations.
So if you’re thinking 💡 about selling, the demand is strong, but your competition is even less than it was prior to COVID-19, because rightfully so, a lot of people don’t want to list their house 🏠 right now. But you potentially could be missing out, if you’re thinking about selling as their is a huge demand of buyers and not a ton of competition.
In this video 📹 we also touch on:
✅- Inventory vs demand
✅- How we’ve adapted an entire virtual marketing platform for your comfort.
✅- Seeing the demand from buyers, a demand for new construction and cover the misconceptions associated with this – a lot of people think they can’t afford new construction. But in Wicomico County, we have various price ranges when it comes to new construction. Often, you can get into new construction and you didn’t even know it !!
Interest rates down to 50-year lows. So we’ve seen buyers get loans under 3%. That’s just almost unheard of and unreal. a great time to buy 💲 because of interest rates.
🏘 Homes are selling quickly without declining prices
If you’re a seller, there’s huge demand for people that want to purchase your property, and people are still buying and selling based on their need. So again, things have changed logistically about how it’s all facilitated, because of safety concerns and social distancing. But bottom line, if you’re a seller, it’s a great time to sell 💲. If you’re a buyer, great time to buy, and we see the demand continuing through the rest of the year. Obviously, we don’t have a crystal ball. That could change, as all of this changed so fast. But here locally, we’re seeing huge demand from both buyers, and great time to sell for sellers.
If you’re thinking 💡 about selling and you have some concerns, just reach out and we can help you have a conversation of how we do our safety protocols, potentially what your house 🏠 is worth. No obligation, no risk. And then if you’re a buyer and you just really don’t understand how credit works, what you can qualify for, what you don’t qualify for, that’s another thing. We’d be more than glad just to take the time and help walk you through that.
And again, just to help you get prepared because again, rates being as low as they are, 50-year lows it’s a great time to get a mortgage.
So any questions in reference to buying or selling a house 🏠, reach out to us any time. Again, no obligation. We’re here to help, to help our community through this time and help everyone figure it out !
The Maryland and Delaware Group of Long & Foster Real Estate
☎️ D: 443-783-3928 O: 443-339-9200