Coronavirus Impact on Indianapolis Real Estate
The coronavirus pandemic has created many frightening headlines over the past few weeks. In times of uncertainty, one of the best things we can do to ease our fears is to educate ourselves with research, facts, and data. Digging into past experiences, reviewing historical trends, and understanding the peaks and valleys of what’s come before us is one of the many ways we can confidently evaluate any situation.
With concerns of a global recession on everyone’s minds today, it’s important to take an objective look at what has transpired over the years and how the housing market has successfully weathered these storms. Have comfort in knowing that even with an economic downturn, it will be nothing like the 2008 housing crash!
The Facts About the Indianapolis Real Estate Market
Sellers have continued to list their Indianapolis and suburban homes during the coronavirus pandemic, albeit at a much slower pace than typical for mid-March. With real estate deemed an essential Indiana business, buyers and their REALTORS® have continued to view active homes for sale with national safety precautions in-place.
Surprisingly, in the last two weeks of March, 2020 our Central Indiana housing market saw 1713 pendings of residential properties -- while the the same dates in 2019 pended 1774 residential properties.
Buyers are still champing at the bit to find homes in high volumes, and we are encouraging all of our sellers to NOT WAIT until this "all blows over" and list their homes for sale NOW! Delayed seller listings will lead to a pent-up amount of listings that all hit the market simultaneously. This onslaught of homes will lead to a temporary imbalance of supply/demand leading to lowering home prices just after the quarantine is over. In order to net the most for your home, we are encouraging all sellers to list now and stand out among buyers looking right now.
We are asking that all sellers take this advice seriously. There are a subset of buyers who are compelled to purchase immediately. One segment of buyers is the inpouring of transferees currently looking for homes. With new year corporate job offers accepted in January and February, relocation professionals are scrambling to find homes. Additionally, the influx of incoming medical professionals who need to arrive in Indianapolis for their June start dates has created a frenzy from hundreds of physicians seeking housing based on the March 17th medical match results.
We are encouraging all sellers planning a 2020 move to being marketing their homes now!
Why Indy Homes Team & Keller Williams Realty?
Our Keller Williams CEO Gary Keller, a real estate veteran with four decades of experience, hosted a livestream with more than 160,000 associates last Monday.
Keller announced how the company is supporting its agents
in a time of a global pandemic and the accompanying market slowdown:
“We are doubling down on the heart, training, technology and leadership needed to protect and power our agents’ business through the unexpected,” Keller said. “We feel we are fully positioned to stay digitally connected and deliver the best training content in our industry, even while we all may be at home with families, where we belong.”
Who you hire matters! Indy Homes team powered by Keller Williams Realty and led by REALTOR Kristie Smith is the best Indianapolis real estate team equipped with the knowledge, skills, technology and experience in these unprecedented times. Please contact us FIRST for your real estate market questions answered!
YES, CONTACT ME ABOUT SELLING MY HOME: