By Lisa Marie Boyd, Principal Broker/Owner & Catherine Fisher, Managing Principal Broker/Owner
In the real estate industry, we often say our season runs from spring daylight saving time to fall standard time. We say this because there is more opportunity to show homes when the days are longer and the rain is not as prevalent which allows buyers more light during which to see homes.
However, that does not mean that the fall and winter are bad times to sell. As we all know, 2020 has been a year like none other. This year we are actually experiencing stronger year over year sales than expected. There are many advantages to selling a home in the off season, particularly this year.
When the region experienced its first COVID-19 “shelter in place” order, there was some concern if real estate would be considered an essential business and concern about how to list and show homes during a pandemic. This short-term uncertainty resulted in a temporary industry slowdown. However, real estate was deemed essential and Town & Country Realty implemented best practices to keep our clients, brokers and community safe. Fortunately, we were able to move forward with the contracts that were in place for our clients and we also wrote new offers for those who needed to move, even with restrictions in place. The temporary slowdown caused pent-up demand that we are now experiencing in the form of price increases and inventory shortages.
Many companies are choosing to implement work-from-home policies through 2021. As a result, many people are electing to move into a community where they want to live, without being restricted by the location of the business they work for. The mid-Willamette Valley is a desirable place, drawing more Buyers to our region. Many are realizing the work from home strategy may become a lifelong experience and people want to make their homes the perfect sanctuary for working, school, family and multi-generational living. Additionally, with school districts offering hybrid and online-only learning, the need to wait for school to be over before making a move is reduced. This gives more freedom to a potential buyer who was previously constrained by these timing hurdles.
What do these changes in buyer attitudes mean for a potential seller? It means regardless of the season, and especially in 2020, real estate sales are exceptionally strong. Buyers are actively looking for homes to buy and inventory is at all time lows. Sellers may get the highest and best price possible based on the condition and location of their property. If you are considering making a move, now is an excellent time.
Do you have a house or investment property to sell? Are you curious what it may be worth? Give us a call at 541-757-1781 in Corvallis or 541-924-5616 in Albany to speak with one of our professional real estate experts.