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The first quarter of this year has been as brisk as 2021. I am seeing a few price reductions and slightly longer market time. I’m sure the Ukraine war and rising interest rates are having an effect.
2021 has been an amazing year for sellers but difficult for buyers competing againar multiple buyers. Covid made showings more challenging but we stayed with compliance regulations successfully.
I missed posting the 2nd Quarter Market Reports due to the brisk pace of real estate. It has been astounding the number of families who are relocating primarily from the Bay area to the Monterey Peninsula. We are experiencing short listing periods, most homes are selling at the asking price and often over with multiple offers.
Since our inventory of properties is low, I ask for your help. If you are thinking of selling, or know someone who is planning on selling, it is a great time! Please give me a call or have them call me at 831-809-6208.
As we approach Thanksgiving, I wish you and your family a safe and Happy Thanksgiving filled with the bounties of this holiday and be thankful for our blessings.
Since our SIP order on March 18, 2020, real estate pretty much stopped since we were unable to show properties unless they were vacant. Showing protocols called for booties, gloves and masks, and properties disinfected after each showing. The situation finally improved about two weeks ago. All visitors are required to sign documentation that they are healthy, understand the risk and will wear masks and gloves. One agent and two guests are allowed in a property. Open houses and Realtor tours are not permissible, only virtual tours and appointments.
It seems the market is amazingly brisk with many families wanting to escape the Bay area and finally make the Monterey Peninsula their home. In the last few days, I have seen properties go into escrow in a matter of days and a couple have sold over asking price. We will see how things develop in the near future.
Most all of our annual events have been cancelled such as the Big Sur Marathon, the Jazz Festival, the Bach Festival, various food festivals, and our wonderful Concours D’Elegance. We all look forward to 2021.
Tomorrow, some restaurants are opening for indoor dining, the shopping center is opening, some hotels, the gym, etc. I am hoping our cases of Covid-19 stay low. The majority of cases being reported are located in Salinas and mostly attributed to the agricultural workers. This is very sad. Living in the salad bowl of America, we certainly want our agricultural workers to stay well. We are all aware it will be a long process before we are back to normal and must be cautious until a vaccine is available. Stay safe and well.
I hope you are doing well during this unusual time. Since the Covid-19 SIP, we have stayed active and happily can show homes again by appointment with strict guidelines. Pricing has stayed consistent and we will see how things develop over the next few months but we are all feeling positive.
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Here is our 2018 Annual Real Estate Report. Hope you find this informative. Please Click Here to view our electronic magazine. You will see it arranged by communities.
Sunny, ground floor unit at Cypress Park with two bedrooms and one bath, 943 square feet, one of the largest units in the development. Sweet garden views. Conveniently located near parking, pool and clubhouse. Listed and sold for $415,000.
Everyone is always interested in what the market is doing. Here is the 2017 annual report.