Monday Market Minute for April 6, 2020

 

Hello everyone! This is another Monday Market Video.
These numbers reflect market activity in both Miami-Dade and Broward counties for the last 7 days.
As you can see, there are still a lot of properties coming onto the market for sale, and even more selling and closing despite everything going on with COVID-19. I believe that buyer who are currently actively looking are very serious. I believe it is the same for seller right now. They are motivated to sell and that is reflected in the number of price reductions that we have had in the last 7 days. To me, this says that these sellers are willing to make the necessary price adjustments to get their home sold in TODAY’S market.
Now there were a lot of expired listings in the last 7 days. There are probably several reasons as to why, including COVID-19 and/or being over-priced, however, a lot of listings for sale tend to expire on the first of the month, which falls within the 7 day period which we are examining now.
If you’d like to get more detailed market information for a specific area or neighborhood or if you’d like a market analysis for your home, please let me know. My team and I are doing virtual consultations, property tours, and more. We’re here to help and we’re equipped to do so doing these times.
Click here to schedule your Virtual Consultation!
Stay safe, everyone.