Overall the Gig Harbor market is riding out this rough patch pretty well. We are seeing normal volumes of new listings hit the market (20-35 per week), but we are not seeing as many new weekly pending homes as we did last year. In 2019 we averaged just over 30 new pending homes per week, while this year we averaged 20 per week in March.
With our very low inventory, I would expect activity to remain solid through the spring.
The days of open house lookers are gone for the time being. And if you think about it, the Buyers who do make the effort to look, are very motivated and ready to buy.
The question to list now or wait is one I have been getting pretty often over the past few weeks, and here are some thoughts.
You can list now, and take advantage of the low competitive inventory, and tap into the pool of very motivated Buyers. You have to adhere to some showing protocols, but they are pretty manageable.
Or, you can wait until the stay at home order is lifted, and join everyone else who was also waiting for that to put their house on the market.
While I don't think there will be a huge flood of inventory, I would expect a flurry of pent up supply to enter the market.
I have tracked the local market numbers since 2010, so if you want more information, or just want to know more about how the market may affect your situation, just give me a call or email.
Be well and stay safe!