Corona Virus (COVID-19) and Seattle Housing Market: VGN Update

Mar 23, 2020 | Blog | 0 comments

With the corona outbreak starting in Kirkland Washington and spreading nationwide. Those in the real estate industry are all concerned where the Seattle market stands.

Is it slowing down or the Seattle market will continue as before?

As of now we are seeing temporarily suspension of large open houses. Many agents now rely on technology and listing photos to help keep safety precautions, in regards to COVID-19.

However people are still buying and selling houses in what appears to be a strong housing market in the Seattle area. Low interest rates and continued low inventory in the area, insures a buyers market.

Based on John Manning, Owner and Managing Broker of RE/MAX On Market “It seems to me that there’s still a tremendous amount of demand and I think folks that have solid financials are still house hunting” he stated. (Seattlepi.com)

Which tells us that there are enough buyers on the market that doesn’t cause unnecessary disturbance at this point in time.

The current situation also depicts that buyers and sellers will do a certain amount of shopping, with the aid of technology. Which provides the ability for people interested in looking at homes to first go online and watch videos and have a virtual tour of homes before continuing with the process.

The VGN Team recommends agents and brokers to utilize technology and following marketing during this time. This includes staging a home, video tours, outstanding property photos, private appointments and even 3d tours!

This could be a great opportunity for buyers to capitalize on this market and sellers to successfully sell their homes. So if you’re wondering how to sell your home or when to sell your house, it is still a buyers market! Use our tips and list while the Seattle market is still great!

 

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