Coronavirus Real Estate Market May 11, 2020 Update Number 3 – Properties are Selling
As I mentioned in my previous blogs at www.mycamarilloproperties.com/blog, Real Estate Transactions are still occurring. However, the volume of listings and transactions have declined. Pricing has been relatively stable up to this point.
I like to steer away from the crystal ball and not make Real Estate Predictions. Hence, let look at the data, “follow the numbers:”
Below is the activity from April of 2020, this year from our local MLS in Ventura County:
A. New Listings: 475
B. Under Contract: 289
C. Pending: 416
D. Closed: 487
2. Now let us compare April 2020 to April of 2019 from our local MLS in Ventura County, below is the data from April 2019:
A. New Listings: 1072
B. Under Contract: 574
C. Pending: 797
D. Closed: 699
As you can see, the activity level has decreased significantly. In particular, this has been seen in new listings. However, an important component is that the amount of properties under contract on a percentage basis is the same. In April of 2020, 289 properties went under contract and there were 475 new listings for a percentage of 61%. In April of 2019, 574 properties went under contract and there were 1072 new listings for a percentage of 54%. What is the takeaway from that data? While the volume has decreased, properties are still going into escrow at the same, if not greater percentage frequency, than the previous year.
Of course, the number one question that I get on a daily basis is “What about Real Estate prices?” The good news for sellers is that prices have increased 3.8 % from March of 2019 to 2020 in Ventura County according to our local MLS. For those that know me, I steer away from Real Estate price predictions, in particular this spring. As the Federal Government has pumped so much money into the system, kept rates at historic lows, the pricing of equities and real estate have remained solid for the most part.
Consequently, if you need to buy, then buy. If you need to sell, then sell. As of this writing the numbers have indicated that the volume has decreased but prices have remained stable.
About Dave Crowell, Dave Crowell is the Broker/Owner of American Dream Realty in Camarillo Ca and a top producing Camarillo Real Estate Agent, DRE 01845970. For more information feel free to contact Dave at 805-300-3345 or visit my website at www.mycamarilloproperties.com for seller and buyer tools.
Also, for a valuation report on your home go to:
Dave Crowell
Broker/Owner
American Dream Realty
Cell: 805-300-3345
FOR INSTANT PROPERTY VALUATION REPORTS - CLICK HERE
crowelldg@gmail.com
www.mycamarilloproperties.com
DRE Lic: 01845970