April Market Update: Coronavirus Effects

How is the market responding to the current pandemic?

The Average Sales Price has stayed relatively the same, and is still at a record high for Lewis County – well beyond 2007 levels!

New listings are up, dramatically as you can see from the graph. Although this graph shows that last year at this time listings were going down, the historical data over the last few years is mixed. It seems to go up one year, down the next, then up again and switches data points with summer time activity.

Pending sales are down just a skoche. Overall, still at record levels. Besides last month’s data, this is the highest amount of pending sales in Lewis County recorded history, much higher than 2007 levels.

Nobody knows what the future market will look like, but I can tell you what it looks like now. I hear many people saying that buyers aren’t buying, but that’s not the case. Their numbers may be lower but for many people it is still essential that they purchase a home.

There have been 39 NEW listings in Lewis County added since the Governor’s Stay at Home orders on March 23rd. During that same time, 36 listings in Lewis County went PENDING.

The real estate market, at least so far, is still full throttle.

If you’re looking for an honest assessment and guidance in this real estate market, let’s chat! Stay safe out there!