Statistics Released June 2020

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The numbers for condos lagging somewhat behind single-family homes but we still had a banner month for sales given the impact of COVID on everyone.  The month of June contrasted greatly with May in terms of number of sales.  While May was dismal, June 2020 experienced even more sales of single-family homes than June 2019!  Average prices are also slightly up for single-family homes in the region.  This may be explained partly due to lack of inventory, I believe the lag time for people willing to list is greater than the lag time for buyers re-entering the market so we should see more listings coming online over the next few months.  Why do I say this?  1.  Restrictions placed on the ability to evict tenants to make way for new owners made selling a tenanted home uncertain.  2.  People understandably concerned with their own health and safety by exposing themselves to property showings.  It's one thing to be a buyer viewing a home wearing protective gear, another to be the homeowner having people enter your space, especially if you or a family member is immune-compromised.  3.  Courts have not been processing foreclosures and conduct-of-sale type properties at this time so these properties have not been hitting the market.  

These are strange times.  I'd like to help in any way I can.  Whether you need real estate advice or just need someone to talk to, give me a call.  I'd love to catch up.