Hello Everyone,
I hope you had a great week. I am glad I didn't jump to any conclusions in terms of the market based on last weeks numbers which were a little sluggish. This week's sales numbers are back up showing an incredibly strong market. Wow! Who knew three months ago that real estate would be carrying the economy as much as it has? We are hearing the same story from other large markets outside of urban areas in Connecticut, Long Island, New Jersey and California. The suburbs of NYC were especially sluggish before the pandemic and have now surged as buyers flock to get out of the cramped city.
What's so interesting as well about our market is that sales are across all price ranges. More than one third of the homes that went under agreement were over $2M and many of that third were north of $3M. I am confident given the data in declaring this a healthy market. In fact, the low inventory makes it a great time to list your house. We have many, many, buyers waiting anxiously for new listings to come on each week with hopes that one will be the perfect fit for them. I am not alone I am sure in saying that, many agents are reporting the same thing.
We anticipate another really busy weekend coming up and I assume this will continue through the summer. Have a great week!
Warmly,
Teri
