So much has changed in our every day lives since March here in Northern Nevada. We’ve stayed at home, we’re wearing masks, we’re keeping our distance and our kids have been learning at home. These are some pretty big changes. The real estate market is really no exception. There are some big changes there too.
The good news for home sellers is that the inventory of available homes is dramatically low. At the end of July 2019 there were 1,380 single family homes for sale in the Reno-Sparks market. As of today there are only 630 active listings. The median price for these 630 listings is $626,495. Of the active listings there are 217 under $500,000. This low inventory is prompting multiple offers on many listings and homes are going into contract quickly.
As market conditions signal a great time for sellers, here are a few of the changes you will experience if you sell during the pandemic.
- Professional photography and virtual tours are more important than ever. Many more buyers are taking deeper looks at homes online prior to seeing them in person.
- Having your home clean and disinfected is important to buyers who will be coming to see your home.
- Buyers are required to wear masks when viewing your home.
- Buyers are asked health questions prior to entering your home.
- Hand sanitizer and wipes are provided at the door.
- You turn on all the lights and open closet doors prior to leaving for showings in order to limit surfaces needing to be touched.
- Sellers have to continually clean surfaces after showings.
- Home inspectors and appraiser wear masks and gloves.
With record low interest rates creating buyer demand and low inventory NOW is a great time to sell and we can help you do it safely. Contact the Shocket Team today.