Is real estate happening on LI during Coronavirus?

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Real Estate

Is real estate happening on Long Island during the Coronavirus epidemic?

Let me start today’s blog by hoping that you and your family are safe and well. Dad and I and our families are healthy and staying safe. These days I am enjoying family time in Mom and Dad’s backyard staying 6 feet apart while the kids and dogs run around.

Now back to my original question. We are being asked what is going on with real estate so much that we thought we should post what is happening on Long Island. The quick answer is YES! Real estate is essential. Homes are still being sold and rented every day. The way in which homes are being shown is changing but dad and I can show virtually and still connect buyers and sellers. Some of the technology we are working with will change the industry. Call me if you want more details as the guidelines are ever changing.

We are also noticing an interesting increase in rental prices with people wanting to move out from the city and high demand with no inventory. We just rented 16 Norwood in Northport for $6,000 a month. $500 over asking.

Home prices are also staying strong in our area. Limited inventory and buyer demand are the key factors right now. We just closed 16 Okleigh Place in Northport 40k over asking

We signed a new listing in Kortwright NY on 5/18/2020. It sits on 43 Acres and we are doing everything virtually. 200+ miles away from our office!! Under contract 5/28/2020

And we just put 31 Edgaret Place in Northport under contract.

We are in a fascinating time that I believe will be studied for years to come. The social and economic effects are going to be felt far and wide. We would love to hear what you think. One thing I do know is that more people than ever are working from home. If they are not forced to go to the office everyday and maybe only once or twice a week or month that will exponentially increase their ability to move farther away. If they could normally handle a 30-45 minute daily commute would they be open to a hour, an hour and a half? We could possibly see a mass exodus from the city and surrounding areas of people who want a home that they can social distance in. A large home in the country with a nice backyard. Maybe a pool?

As always Dad and I are here for you. Please call if you need anything or just to say hi. I have taken some of this time during quarantine to reconnect with people I have not talked with in years. That is one of the things that I have enjoyed about the last couple of weeks. Try to stay positive and we are looking forward to seeing you soon.

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Call us to sell your home today or ask for a free pricing analysis. Don’t trust Zestimates or any online sources. We are a phone call or email away. 631-974-9153