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The Coronavirus Has Changed The Real Estate Market
The Coronavirus Has Changed The Real Estate Market

Like every other industry, the COVID-19 pandemic has completely affected the real estate market – changing the way realtors, buyers, and sellers do business. What used to be a busy “super-bowl-like-Sunday” every weekend on a normal spring market, realtors have been busy keeping everyone safe. This means that unit viewings, tours, and client meetings have become virtual and transactions are made online.

While this shift in doing things is pretty cool, it has its limitations. It just can’t replace seeing a property in person.

This pandemic has also changed the perspective of what the buyers want. They now want more storage space, pantries, and pools. Buyers now want more space.

With the pandemic going on, condo buyers are also wanting in-unit laundry. People don’t want to share laundry with a virus on the loose. Now, people don’t want to go out and put on a mask just to do laundry, and they don’t want other people’s laundry baskets touching theirs.

A recent Harris poll showed that a third of Americans are seriously considering moving out of the city. Some people who weren’t planning on buying a house for at least another year have felt a sense of urgency to do it now. Sabrina Salvati and her husband in Somerville said, “We knew living in the city would sacrifice outdoor space. We were fine with that because we would get to do some things in the city like concerts, sports games, festivals. If this is the way it’s going to be for a while, does it really make sense for us to spend a lot of money to live in the city to not do things in the city?”

Permanent city residents would say that this, too, shall pass, but there is no denying the fact that everything has become different.

But then, it doesn’t mean that you can’t still live in the city and be safe. We just have to remain vigilant and cautious. Safety and health always come first.

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