As I sat down to write my weekly thoughts, Governor Baker serendipitously made another major announcement. That seems to be my luck lately! The stay at home order in Massachusetts will continue (at least) until May 18, 2020. What does that mean for all of us? Well, school is out anyway, so I guess we keep the course for a few weeks longer. I know we will get to a place that feels more "normal"... baby steps, right?
Recently, I have been very actively participating in the real estate world and from my perspective it is obvious that people are getting a little antsy. It’s keeping me busy! Thank you all for that. Nationally, aggregators and brokers are reporting similar things; online viewings of listings and showings over the last two weeks are up significantly. Showtime, which schedules showings for homes through an online portal reported viewings were up 39%.
I saw an uptick in activity. As I mentioned in my last update, we brought two new houses to market this past week. All face to face showings were done with safety precautions in place. Everyone entering the homes wore masks and gloves and left their shoes at the door. Social distancing was enforced. It feels very deliberate, but comforting for buyers and sellers, to know that everyone is truly working together to combat this virus. Over the course of a few days, I handled sixteen showings at one property that we listed close to $2M. Eight were virtual tours through FaceTime and the other half were in-person showings. I was thrilled to accommodate both types of requests on behalf of our seller and in the end they were presented with multiple offers!
The luxury section of the market is active and selling. A colleague of mine told me she got an offer on a property (in the same price range,) that had not even hit the open market yet. The demand is out there. The profile of these active buyers are primarily couples with young kids moving from urban locations- most are currently living in New York City or Boston. A family touring one of our properties calls Brooklyn home and was quarantining here in Massachusetts with extended family. They will not be returning to NYC after the pandemic as they have now decided they want to buy a home in the Boston area. They are enticed by more "elbow" room and outdoor space after being cramped in small city apartments.
I also had my first closing on the hood of a car! The attorney came to the buyers and everything was signed outside with social distancing in place. The sale happened to be my parent’s house so it made the scene even more memorable. 2020 is turning out to be quite the year!
That's it for now. As always, I hope this note finds you healthy and happy. I always love hearing from people, so please reach out. Stay well.
Warmest Regards,
Teri Adler, MBA
Teri Adler Group 617.306.3642