The spring real estate buying season looks a lot different this year than we expected. But, the good news is people are still buying and selling real estate. In March, Reno/Sparks REALTORS sold 505 homes, which was a 10.75% increase from February, and a 10.26% increase from March 2019. Read more about the Reno/Sparks real estate market here.
We realize that for some, buying or selling a home is not something they can put on hold until this is over. If you're going to sell your home, this may be a great time to do so as you'll have less competition as more homeowners are postponing listing their homes. If you're planning on buying property, this is still a great time to take advantage of historically low interest rates.
One of the main concerns about selling a home during the Covid-19 pandemic is how home buyers will be viewing properties. This is not the time for casual shoppers to tour homes or for agents to be hosting open houses. However, if you are a serious buyer, home sellers and agents are taking precautions to make the properties as safe as possible, including practicing physical distancing, increasing cleaning practices, and providing shoe coverings or asking home buyers to remove their shoes before touring a property.
Another opportunity to view homes is through virtual tours and extensive photos of the property. Many listing agents are creating walk-through videos of properties to give buyers a sense of space and the floor plan.
If you are planning to purchase or sell a property in Northern Nevada, please reach out. We would be honored to assist you and partner with you in selling or purchasing a home.