There’s no doubt that in the age of COVID-19, it can be challenging to keep up with the latest on continually developing, if not turbulent, rules and regulations. While many cities begin reopening — and certain areas seeing a high volume of new cases — it can be difficult to fully comprehend how any given sector of the economy is doing, especially real estate.
Faced with the task of relocating, you’re most likely raising your metaphorical hand among a class of like-minded homeowners — are things really starting to get back to “normal”? Is now a good time to consider selling my home? Should I wait? Whether you are wondering about the timing of a sale or curious to hear about how to proceed, here are a few things you should know:
Can I Sell My House During COVID-19?
Selling a house is always based on several factors, particularly those regarding your family’s financial situation and overall health. However, you can still sell a home during this pandemic, especially now that states are moving forward with the reopening process. In most markets, inventories are low, and prices are relatively high — which means you can make a profitable sale. All in all, there remains a serious demand for homes, and interest rates are low — which incentivizes buyers to make a timely investment. Generally, markets with lower inventory see houses sold quickly.
I Want to Sell My House — But Is It Safe?
There are several safety precautions your real estate agents can take to show your home to prospective buyers. These include arranging overlapping showings, requiring masks, providing hand sanitizer, and even keeping all the lights on and doors open to reduce the surfaces touched by visitors.
Should I Expect to Sell for Less?
While the economy is experiencing a recession, prices aren’t necessarily dropping. There are fewer buyers, yes, but there are also significantly fewer homes on the market — so “supply and demand” still applies. If a house is priced correctly, depending on the market, it may take a bit longer to sell — but you’re not guaranteed to take a substantial hit on the final price.
Are you looking to buy or sell your Philadelphia home? Reach out to our team of real estate professionals for more information regarding available properties and expert guidance in navigating real estate in the age of COVID-19.