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      Market • May 27, 2020

      MyProTeam Covid-19 Week Ten Update

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

      ZIujto7nyFKW4sGkuU9dCJuITKfBVmWWgRMmdjwGVNLkiDlf8SasiS8yYcZpGQ0-OXiFlnVLbXHBEX8P3T_Q6oKI_G8UsXZM94SVvflJgEQ_qDRG627MWF_O4CwGS1UcQGK0AhpoSjXDOOTHiOla3BQ3xwictgs0-d-e1-ft.png

      Staying Put a Little Longer

      This week, officials announced that the closure for non-essential travel over the border crossing to Canada has been extended until the end of June. So, we will have to wait a little longer for any fun rendezvous up north. I am curious to pay attention to how many of our Canadian buyers and sellers are unable to participate in our market right now as well. Also new this week, Skagit County Community College is providing drive-thru testing for COVID-19.

      BACK TO THE DATA

      Comparing this last week to the same week last year, we are again just under half the amount of New Listings for Whatcom County.  The market continues to fluctuate normally week to week- the numbers for both years went down since my update last week; reported last week was 137 in 2019, and 65 in 2020.

      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 biggest changes here are that in Bellingham, the homes under contract DOUBLED (BIG WEEK BELLINGHAM!!!), and in Lynden, only 1 house went under contract in the last week.

      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.

      Actives in all 3 areas continue to stay at a pretty steady DOM number over the weeks. As in a normal market there’s some fluctuation week-to-week in the DOM for the under contract sales.

      % 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.

      WOW= that 1 house that went under contract in Lynden this last week brought the average down, and the % difference up substantially!

      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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