We hope everyone is doing well and slowly coming back to normalcy if that is possible. We have been working hard behind the scene to keep you abreast of what is happening in the real estate market.
Here are the updates!
After COVID-19 hit, the real estate market tanked. April’s real estate market dropped a whopping 55% in comparison to 2019, and May was only slightly better.
In a previous vlog, we shared that the traditional spring real estate market had been delayed. Well, the Spring Market has finally arrived. The market is hotter than hot, with listings taking approximately 20 days from listing to sale. Activity is healthy, and multiple offers commonplace with prices holding their own. In this same time slot, last year, turnaround or sale of a listed property was 30 days.
The other advantage of the current market is the extremely low-interest rates. Making this market the optimum time to buy or sell a home.
Looking to list your property? Call the team at Larry Aldea Real Estate 613-601-6834.
Looking for more information about the current market, visit our website at larryaldea.com.