MARISSA HOPKINS SEMI-ANNUAL 2020 HOME SALES REPORT
How Covid has affected the North Shore Market - Marissa's Semi-Annual Home Sales Report
North Shore Semi-Annual Home Sales - The Covid-19 Affect
Below is my Semi-Annual Sales Report for Single Family homes on the North Shore. It's 5-years in review, so it quickly shows trends by community. What is most interesting is that Covid-19 didn't slow the market as much as one would think. Sales in the beginning of this year began intensely. Yes, the pandemic virtually stopped the market for two months –so take that into consideration as you view these numbers. -Most of the 2020 sales occurred in a 4 month timeframe. Sales starting in June quickly regained momentum and in some cities, like Highland Park, Lake Bluff and Evanston, have already made a come-back significantly exceeding 2019 sales. It is now a seller’s market.
If you would like to know the current value of your home, call me!
So why all this activity? There are a number of reasons. First there has been pent up demand and historically low mortgage rates (below 3% for a 30 year fixed). That stimulated buyers early in the year. That, now coupled with Covid, has people re-thinking where and the type of home in which they’d like to live. What buyers want are bigger homes, backyards, separate office(s), a “classroom” for the kids, an exercise room -- to stay more comfortably in place. The demand for homes with swimming pools has also greatly increased. This is especially true for families with kids, but also applies to anyone living in a multi-family home (i.e. condo buildings). Those buyers are concerned about the public spaces, such as the elevator, lobby and mail room they need to frequently use. This all bodes very well for home sales on the North Shore for the months to come.
MARISSA HOPKINS TEAM’S ANNUAL HOME SALES REPORT 2018*
This exclusive report shows Single Family Home sales for all of 2018 by community and provides a four year overview to give you a sense of the trends and changes in the housing market in your community. The source of the data is the Midwest Real Estate Data (MRED)*, the "Multiple Listing Service” (MLS) for our area.