Local real estate sales are starting to climb following a free fall after Ontario declared a state of emergency in the face of COVID-19.
During the first week of April, Norfolk’s real estate sales hit bottom and have since started to rebound.
No, it’s not the Broker of Record or sales representatives. It’s the administrators. These unsung heroes are the ones who really run the show.
Real estate sales are on a downward spiral just as the spring market was revving up. There were 13 firm sales reported on the local MLS® for all of Norfolk County for the week of March 23 to March 29. The following week, March 30 to April 5, only reported three sales. That’s a decrease of 77%.
Residential sales reported on the local Multiple Listing Service (MLS®) were headed way up in March of this year compared to the same time a year ago
During this time of uncertainty we will make use of technology like video conference calls, virtual tours, floor plans, “sight unseen” conditions in offers and the use of electronic signatures to complete those transactions remotely to support social distancing
We will be respecting the government’s recommendations in terms of social distancing and will not be hosting any open houses until further notice.
We are committed to our obligation to protect the health and safety of our clients, REALTORS®, staff and neighbourhoods. To serve our clients, we will operate our real estate services remotely.
Gone are the days of low ball offers and weeks of negotiating. Today it’s about multiple offers (aka bidding wars), over market purchase prices and firm deals in just hours.
While the temperatures still remain chilly, there’s anticipation that the spring real estate market will start warming. Are you ready?