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      Market • May 19, 2020

      MyProTeam Covid-19 Week Nine Update

      by Damian Pro
      ZIujto7nyFKW4sGkuU9dCJuITKfBVmWWgRMmdjwGVNLkiDlf8SasiS8yYcZpGQ0-OXiFlnVLbXHBEX8P3T_Q6oKI_G8UsXZM94SVvflJgEQ_qDRG627MWF_O4CwGS1UcQGK0AhpoSjXDOOTHiOla3BQ3xwictgs0-d-e1-ft.png

      ZIujto7nyFKW4sGkuU9dCJuITKfBVmWWgRMmdjwGVNLkiDlf8SasiS8yYcZpGQ0-OXiFlnVLbXHBEX8P3T_Q6oKI_G8UsXZM94SVvflJgEQ_qDRG627MWF_O4CwGS1UcQGK0AhpoSjXDOOTHiOla3BQ3xwictgs0-d-e1-ft.png

       

      Beginning & Ending on High Notes

      Our new normal seems to be becoming less new and more normal, just in time for our Phase 1 to be coming to an end- maybe one more week (at the earliest), and then we move on to Phase 2!

      It’s still not business as usual , meaning, no open houses, only serious homebuyers touring, all showings by appointment only regardless of occupancy (vacant or occupied), showings limited to two people on a property (broker and client) with proper social distancing, and most everyone is sporting a mask.  Even with the new norms I personally am seeing an uptick in the market.  I’ve been busy showing homes to new clients as well consulting with current clients as we prepare to list their homes.

      *All of the agents at Windermere continue to protect our community through taking extra precautions to safely do business with us! We are wearing masks, gloves, and making sure to wipe down every surface we come in contact with!* 

      BACK TO THE DATA

      Comparing this last week to the same week last year, we are just under half the amount of New Listings for Whatcom County.  Considering everything going on this year, 65 in a week is not terrible.

      UNDER CONTRACT 

      Below is an accounting of all of the active listings on the market in our three major markets along with all of the sales that went under contract from 5/9 to 5/15/20 (pulled around Noon PST) and the percentage relationship between those numbers.

      The numbers for New Listings in all areas have only fluctuated a little bit since last week. How many weeks in a row have I been saying that? Small fluctuations are normal, and even though our total number of listings are less that what they would normally be, the market is fairly STEADY (in this the new normal?).

      ADOM

      The second chart represents the Average Days on Market (ADOM) for the homes that are currently active and that went under contract between 5/9/20 and 5/15/20. “Days on Market” is how long the home was active on the market before the seller accepted an offer.

      If we look at the 3rd column, the higher the difference in days there is shows us that the homes that are under contract, have been on the market for a shorter time than the homes that haven’t accepted an offer. They might be priced too high, or not going pending for any number of reasons.

      % PRICE DIFFERENCE 

      The last set of data below is the average prices of the active listings and the average prices of the homes that went under contract last week. What we are mostly paying attention to here is how the % difference is changing from week to week to see how COVID-19 might be affecting the offer price that homes receive.

      Bellingham’s Under Contract Average price sure did change this week- a $1.9 million home pended!  That sure changes the numbers!  Lynden finally had homes go under contract that are priced less than the average for actives.

       

      Related Articles
      Market MyProTeam Covid-19 Week Fourteen Update CATCH-UP MARKET Everything appears to be playing catch-up.  More and more listings are coming on the market and values never really did decrease! Find more information about this below. With that being said, this will be the last weekly Covid-19 post, and I will return back to my monthly updates.  As I stated last week, […]
      Market MyProTeam Covid-19 Week Thirteen Update GRATITUDE AND REFLECTION As I sat down to prepare this weeks’ newsletter I had to pause for a moment as I came to the realization this is the 13th week of my specialized Covid publication!  It’s seems as though the weeks have flown by (as they all seem to run together), but also like an eternity.  Either way I […]
      Market Monday’s with Matthew Matthew Gardner analyzes post-COVID 19 home prices and offers his prediction for whether or not they will end the year in the positive or negative.  
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