I am looking forward to going to California in mid-July to get out of the sun, play golf and can only hope that the hotels and restaurants are open. I was fortunate to list 18 homes in our area the past 30 days ranging from $375,000 to $1.2 million. We have now sold 59 homes in 2020 and have another 12 in escrow.
The major question I get asked by buyers and sellers today is about the impact that COVID-19 has on our market. The crazy answer it has very little impact on the many buyers and sellers that are out there. Certainly we are all keeping our social distancing in viewing homes but our real estate market is on fire and as good as I have seen it in over 25 years. I am seeing multiple offers on homes and I even had multiple offers the past few weeks on a million-dollar North Central home.
There are a few reasons for the demand to buy and sell homes in our area and it all starts with our great low interest rates. The second reason is that there is a huge demand to live in North Central/Biltmore areas, not only for the location but our home values are still at a reasonable number compared to Arcadia and Paradise Valley. I am always asked whether there are many buyers coming from out of state to our area and, again, the answer really is no. The buyers in our area typically grew up in this area, or work in the area or my best reasoning is mom and dad are convincing their kids to move back to this area so they can see the grand kids more and are helping their kids with buying some of these homes.
The one request I have for you guys is that there is a big demand for luxury homes that are valued over a million dollars. I have four or five buyers right now that are looking to buy a high-end home in our area and would like to move to North Central with in the next two to three months. I have sold 11 homes priced at more than a million in 2020 (including a Bartlett States home for $4.1 million) and I am seeing more families moving to our ‘hood from PV and Arcadia because it is closer to their schools and because they get more bang for their buck here.
Please call me if you are thinking about selling any priced home that you currently reside in because there now are more buyers that there is inventory. I work seven days a week so there never is a day that will not work for me unless it is a few days in July while I am in California playing golf!! Have a safe July and I look forward to hearing from you if you are either wanting to sell or buy a home.