Many people are asking how COVID-19 is impacting the Real Estate Market. The good news is that the interest rates are predicted to remain at an all time low, which provides a great opportunity for prospective buyers. The market has not been immune to COVID-19, but sales continue to take place, keeping the market afloat.
Here are some of the statistics from Framingham, Natick and Marlborough that lay out the current market status:
Virtual Showings have been a major tool for realtors, allowing prospective buyers to walk through seller's homes all from their computers. Realtors should urge their sellers to cancel any in-person showings if someone is feeling sick. The use of masks, gloves, and hand sanitizers should be required when allowing buyers to view homes. The market should remain decently strong through to the fall as we have seen consistent listing and sales pricing, while closings continue to take place.