This winter may be a season unlike any other in real estate. Typically, winter slows down market demand due to the holidays. We see a temporary pause until mid-January/ February before the market takes off again. This year, however, is different. The pandemic caused a halt in the housing market from the Spring of 2020 to early Summer 2020. The usually active Spring hustle was non-existent, while many homeowners chose to wait things out for a better economic opportunity.
Late Autumn into the Winter months may show a rare continuation of home buyers and sellers on the go to secure a deal. Since many were at home all of these months, residents spruced up their abodes with cool office spaces and finally prioritized that room remodel. The real estate market is now looking at a prosperous season to come.
Normal holiday plans are uncertain while everyone remains home. Stay-at-home orders have been lifted enough to get things moving again in Philadelphia. Open houses and in person home tours are happening while safety precautions are set in place. In fact, there are upsurges in neighborhoods like Rittenhouse Square, Graduate Hospital, Port Richmond and more.
Virtual work and schooling continue to be a mainstay in our lives, which means buyers are looking for larger homes than before. They want the room to spread out for privacy while seeking places to gather like the family room or kitchen. Sellers have a unique edge to market. As we take on a unique new season to come, I am here to help you on your journey.
