The number of days that have passed since the beginning of the New York on PAUSE (March 23, 2020)
![]() In this post I'll put most of the focus on the numbers. As usual, I'll give you my take. In addition, I'll offer some observations about what I'm seeing in the local real estate market that build on my last post. As always, I am available to talk privately with you about your particular real estate situation. Call, text or FaceTime: 585-732-1767. Email: romecelli@realtor.com I'm hosting a Zoom meeting to answer your general questions and talk about the local real estate market. Monday, May 11, 2020 at 6:30 pm - CLICK HERE TO JOIN THE MEETING Meeting ID: 585 732 1767 Password: 625369 What's notable about the numbers this time around?
Is the risk of COVID-19 low enough to merit what the market demands? The Herd Is Speaking. As a result of the blossoming Spring real estate market pressure is mounting to push back against social distancing guidelines and the New York on PAUSE regulations. Home buyers, who tend to be younger and less vulnerable to COVID-19, are becoming intent on doing whatever they need to do get an advantage over other buyers; seeking to reduce their home buying risk by looking at properties in person; and maximizing efficiency over personal and societal safety. A herd mentality fed by self-interest, cabin fever, nice weather is eroding support for caution. Sellers, who up to this point have been far more concerned than buyers about the immediate impacts of exposure to coronavirus, are beginning to turn in favor of seeking higher prices and better terms over maintaining safer practices. Groups of buyers are filing through properties in some areas creating a breeding ground for coronavirus exposure. "Unaccompanied" solo appointments are transforming into turnstiles appointment schedules. It doesn't help that the New York on PAUSE executive order is filled with admonitions & exhortations rather than explicit enforceable prohibitions. People are behaving badly behind a fig leaf: wearing a cloth mask & gloves. It reminded one of my colleagues who said on a recent call it seems like when you take antibiotic for three days and your fever's down to normal. You feel great. So, you decide you don't need to finish the remaining seven days of your prescription. If what I have been seeing continues, the real estate market in our area is going to blow New York on PAUSE wide open let the consequences be damned. We'll see... Key week-by-week real estate numbers in Monroe County for single family homes, townhouses and condominiums: The number of properties listed for sale and the number of properties under contract in 2020 calculated on a weekly basis since March 23, 2020.The third column in this chart shows the week-by week "success rate" (the percentage of properties listed in a given week that have taken a contract) in 2020.
The number of properties listed for sale and the number of properties under contract in 2019 calculated on a weekly basis since March 23, 2019.The third column in this chart shows the week-by week "success rate" (the percentage of properties listed in a given week that have taken a contract) in 2019.
The cumulative number of properties listed for sale and the cumulative number of properties under contract in 2020calculated on a weekly basis since March 23, 2020.The third column in this chart shows the cumulative week-by week "success rate" (the percentage of properties listed in a given week that have taken a contract) in 2020.
The cumulative number of properties listed for sale and the cumulative number of properties under contract in 2019calculated on a weekly basis since March 23, 2019.The third column in this chart shows the cumulative week-by week "success rate" (the percentage of properties listed in a given week that have taken a contract) in 2019.
Key cumulative numbers in Monroe County for single family homes, townhouses and condominiums: The real estate market in 2020 under the New York on PAUSE restrictions:
The real estate market in 2019:
Our Status.
I will continue to post updates related to the metro Rochester real estate market during the coronavirus. The situation is changing rapidly. You deserve the most recent information about our real estate market from a source you trust. I wish you and your loved ones good health and good spirits during this unfortunate crisis! Yours, Rome Celli 585-732-1767 romecelli@realtor.com
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Rome CelliCelebrating over 35 years of commitment to real estates in every corner of our community!
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RE/MAX Realty Group | 10 Grove Street | Pittsford, New York 14534 | 585-248-0250