BUYERS ARE RETURNING TO THE BEND REAL ESTATE MARKET. ARE SELLERS READY?
In mid-March, the housing market saw a steep decline in buyer traffic and showings. This rapid shift in the business caused great uncertainty about what the near future would look like for Central Oregon real estate. However in recent weeks, we have seen initial positive signs that buyers are returning to the market and in need of listings to view. And while we’ll continue to monitor these early indicators, it forecasts good news for the market.
According to a report from Zillow, web traffic to for-sale listings online has risen to levels comparable to past spring markets. While this may seem like an obvious result of people staying at home and browsing online for dream homes, showings are picking up as well.
ShowingTime recently published that scheduled showings, both virtual and in-person, have been increasing week-over-week since mid-April. This rebound is a 39% growth from the decline two weeks prior. You can find your state-specific data on their site, as well.
And here at Bend Premier Real Estate, we are seeing a large increase of website activity, lead inquiries, and in our local real estate market, a spike in pending home sales.
From online viewings to showings and sales, these are the first positive signs since March that we could be turning a corner. But while buyers appear to be coming back to the market, what is lacking the most is homes to sell. For potential sellers who are ready to do so, this could be a great time to list at a great price, and with reduced competition.
In a recent survey by realtor.com, people thinking about selling their homes indicated they’re generally willing to allow their agent and some potential buyers inside if done under the right conditions. They’re less comfortable, however, hosting an open house. This is understandable, given the health concerns associated with social contact these days.
In order to meet the concerns of our sellers during the Covid-19 pandemic, our Premier Agents have implemented Matterport 3D tours on almost all our residential listings so that buyers can virtually tour the home as well as adding additional Covid-19 precautions such as requiring pre-approval letters or proof of funds prior to showing our listings and making sure that proper hand sanitation is utilized to limit potential spread of germs.
If you are in the market to sell your home this spring, give us a call at 541-323-2779. One of our brokers would love to discuss with you how we can help you reach your real estate goals.
