Thoughts on the Market During COVID-19

Posted by Paige Rose on Tuesday, April 14th, 2020 at 2:58pm

As I look back over the first quarter, I realize that my thoughts a month ago would be very different than they are today.

On Daufuskie and at Haig Point we have had numerous listings go under contract since the first of the year and many of those homes had been on the market for extended periods of time.  Some for years.  Properties in various price ranges; 100’s, 300’s, 400’s even over a million.  Every single Plantation Home has sold or gone under contract. There have been times in the past when we have had 7-8 Plantation Homes on the market at one time, now there is just one new listing.  There are only a handful of homes for sale in the Historic District.  The homes in Melrose area selling as strongly.

Market statistics on their own would be strong indicators of 2020 being off to a great start.  The complicating factors of the Coronavirus, the stock market, and the overall economic and social conditions are likely to have an immediate impact on all markets.   What we don’t know is for how long this will last and what the long-term effects will be on the market.

Our hopes, as I am sure are yours is that the market volatility flattens out, the Coronavirus curves flatten out over time and that our lives return to normal sooner than later.   That the world can continue to travel, toilet paper will be available again in the grocery stores and hand sanitizer will not be an item that we are wishing we had stock in.  From a real estate perspective, the spring market seems to be on hold.  Our hopes are that it is a temporary hiatus and that Americans will desire a safe, secure, private island lifestyle more than ever after this experience.  We are here and we are ready when the market is ready.

We look forward to having you visit when this is all over.  We are currently available to do ZOOM or Facetime Tours of homes that pique your interest!  I cannot imagine being in a more ideal place to weather out a pandemic.  Social Distancing is easier on a bridgeless island!  Stay Safe!

Blog by:

Susan Taylor, Realtor with Charter One Realty

Talk or Text: 302-528-4855

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