While I am only doing my full report quarterly now, here are some metrics for where we are this year compared to the same period last year:
| 2019 | 2020 | |
| Inventory (For Sale) | 183 | 100 |
| Sold – Houses (H) | 346 | 349 |
| Sold – Townhomes (TH) | 48 | 46 |
| Under Contract/Taking *BU’s – H | 68 | 122 |
| Under Contract/Taking *BU’s – TH | 14 | 11 |
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As you can see, our inventory remains very low, but actual sales are tracking at the same level as 2019. What is interesting are the units in some form of the closing phase. The conclusion I draw from the number in the closing process is that COVID-19 has substantially impacted title companies getting through the closing process.
By Lloyd Sherman, August 1, 2020
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Click here to read Sherman’s real estate report from July 2019.
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David Gray
08/01/2020 — 2:53 pm
Thank you Lloyd Sherman for sharing this very important information with us. You (and our new BOD members) are doing an amazing job.
Valerie Phillis
08/01/2020 — 4:02 pm
Thank you for your reporting on our housing market Lloyd. These numbers are good to see. While you and other BOD members continue to improve HSV I believe these numbers will continue to improve.
Thank you and the entire BOD for your tireless work that is benefitting HSV property owners.
Tom Blakeman
08/01/2020 — 7:28 pm
Great input. It is nice to have reliable statistics on a regular basis from a trusted source.
One thought on “title companies getting through the closing process “:
Let’s hope this doesn’t ultimately mean that loans are failing to get final approval because lenders are tightening up on their lending qualifications for the buyers. I’ve actually heard commentary to this end in financial news lately as banks/lenders have not all been doing well despite (or perhaps because of) record low interest rates.
William F.
08/02/2020 — 3:34 pm
Lloyd: Got a question for you please.
The party line from real estate professionals in HSV seems to be consistent in that “it’s a seller’s market.” Statements like, “homes are not remaining on the market very long” and are “selling at full price or over asking price” given that the sellers price their property fairly.
My assumption is that this market is being fueled, in part or maybe in full, by the exodus from urban areas due to Covid19. In conjunction with that phenomenon, specific areas like California and the like, are witnessing an outflow of people due to unfriendly economic conditions and burdensome political climates.
My specific question is: do you see this “sellers’ market” gaining even more momentum once we have a vaccine for Covid19 and people in general feel safe to travel and visit retirement destination sites, like HSV?
Your thoughts on this subject would be appreciated.
Thank you.