Weekly Market Update
While everyone is consumed with Covid-19 information whether online or TV and radio, Real Estate is considered an "essential service" in Florida. Real estate agents are still actively listing and selling real estate despite the pandemic following CDC and local government guidelines and taking precautions, whether it be maintaining social distancing , using technology with virtual showings and open houses, as well as electronic signings.
Although, showings and the majority of business has slowed down, there are still folks who need to buy or sell a property. Overcoming obstacles such as condominium buildings not permitting Realtors, Appraisers or Inspectors access, is a daily occurrence. In addition, many buyers who were previously pre-approved for a loan, are finding the lender revising requirements or cancelling the pre-approval.
Regardless, we will continue to move forward, stay healthy and hopefully, put this behind us very soon!
Here are the latest weekly numbers for Fort Lauderdale Real Estate.
These numbers include Lauderdale By the Sea and represent both single-family and condominium/townhouse/co-op properties.
As you can see from the above chart, New Listings increased this past week, while Closed Sales and New Pendings (Under Contract) have declined. Most Closed Sales were already in place before the pandemic hit. The next few weeks, I suspect will be significantly lower for all categories, except maybe Cancelled Listings.
Drilling down into the numbers:
Single Family Properties:
Condominiums, Townhouses & Co-Operatives
* Sums may vary as numbers were updated in MLS after chart(s) created.
Want to know more?
We all get thru this challenging time and be stronger for it! We are here to help you whether you are looking to buy or sell now, or in the near future and want to be your reliable source for Fort Lauderdale Real Estate information. Please reach out and contact us anytime. You can read more about Johanne & John Sabia here.