04/26/2020
It has been more than one month since Monterey County issued its Shelter-in-Place order and we have had some time to adjust to this shifting landscape. The end of the first quarter provided a benchmark to reflect on the status of our real estate market and I would like to take this moment to share our summary with you.
After a strong finish to 2019, the Monterey Peninsula was off to a healthy first quarter in 2020. The underlying fundamentals seemed to be improving until we received the Shelter-in-Place order on March 17, 2020. Most sales in escrow at that time proceeded to close; however, the number of new listings and new sales has since dramatically slowed.
While we would traditionally look at Q1 results as an indicator for future market activity, at this point, all projections are out the window.
The guidance from the Monterey County Health Department has limited our ability to show properties; however, in my experience and in speaking with colleagues, a small pool of buyers remain interested. We have pivoted to virtual showings, implemented expanded digital campaigns and remain poised to adjust as needed to continue to serve as best we possibly can.
Through all of this, we know the Monterey Peninsula will always be one of the most desirable communities in the world. We know that together we will get through this crisis and that our market will return to its healthy, vibrant days with appreciating real estate values and an extraordinary quality of life.
To view our full First Quarter Report, please click the link below.
Wishing you health and peace.
Issuu is a digital publishing platform that makes it simple to publish magazines, catalogs, newspapers, books, and more online. Easily share your publications and get them in front of Issuu’s millions of monthly readers. Title: 2019 Annual Report , Author: Carmel Realty Company, Name: 2019 Annual ...
