Thanks to milder temps in the northeast and a mostly snow-less winter we were seeing a surge of activity in the real estate market as early as January.  January 2020 was the new March!  In March we had 21 new listings and 32 deposits and most of that was accomplished by mid-month, prior to the shut-down.   A much welcome and early start to the selling season. Then news of the pandemic threat.  

Year to date Storrs Mansfield was enjoying a 23.5% increase in new single family residential listings.  Ashford was up a whopping 77% from 2019.  Willington was down 26% in new listings year to date but up 233% in pending sales compared to last year. 

The statistics are all over the place but overall the days on the market were substantially less in 2020 due to the tight inventory that has plagued the market now for years. 

April statistics are likely to be grim in terms of new inventory but probably not too bad for deposits.  The demand is still there for real estate if you’re inclined to sell and especially if you have a property that pales in comparison to the pristine inventory that is likely to hit the market once we have past this crisis.  If your home is on the market now or is going on soon, it will probably sell.  New properties going on the market now that are well priced are getting multiple showings and deposits.  

A new listing that came on the market in Chaplin the other day had 5 showing requests in the first day. Another in Hampton had 13 showings within 48 hours of listing.  Buyers are still in the market and with a myriad of safety precautions in place and enforced, in all real estate transactions, only serious buyers need apply. 

If you want/need to sell and you want to accomplish this quickly and safely we can help.  If you are a serious buyer that wants or needs to buy in a 30-60 day time frame, we can help you expedite your search and manage showings appropriately based on the individual property and occupancy situation. 

We are very aware of the magnitude of this global crisis and as we are deemed an essential business by the State of Connecticut, we continue to facilitate the sale of real estate.  Our office location is closed but we are open by appointment for a transaction that cannot be completed virtually.  We are equipped with masks, sanitizer, gloves and employ a very specific protocol to protect ourselves and buyer and seller clients in the course of meeting the demands of our occupation.  Be well.  Stay healthy.  Be patient. 

 

Here is the perspective of Tim Morse, on the current market conditions in Mansfield and  a message from Sue Esposito,  professional Realtors at Home Selling Team.