If you’re wondering what’s going on with Real Estate in the Solterra neighborhood with the COVID-19 epidemic, here is the latest and greatest.
You would think that with the Shelter-in-place order, the real estate market would come to a screeching halt, but it’s anything but that. Solterra has had three properties go under contract in the past 10 days and a total of 15 closings for the year. And keeping in stride with previous spring seasons where we typically see a surge of inventory, we have 21 active listings in Solterra. So far, the biggest impact we’ve had is the lack of showings due to the COVID-19 but as you can see, we have Inventory and we have buyers.
Most of the activity has been in the lower price point in the 600s and 700s but we are carrying a lot of high-end inventory over 900,000 as well. At the time of this blog writing we are carrying 16 listings over 900,000 which is quite a bit compared to years past but given the circumstances not surprising. We are now at over three months of supply in the neighborhood given that no new homes come to market.
Hopefully these numbers get you up to speed in the neighborhood. If you have any questions, please feel free to contact me. Thank you