COVID19 and Real Estate: What our data shows about the effects of Coronavirus on the Charlotte Real Estate Market

Posted by Trent Corbin on Thursday, May 21st, 2020 at 12:10pm.

Charlotte is beginning to reopen, but are we in the clear?

As of today, we find ourselves right in the middle of an extensive plan to reopen our vibrant, beloved city. We’re now able to travel freely throughout the area for non-essential purposes, like going for a quick jog along the greenway or enjoying a well-planned picnic at a local park. We’re able to show up to support some of our favorite local businesses like restaurants, boutiques, and homegood purveyors who need those dollars to keep their employees on payroll and sufficient food on their family’s table.

While we’re all more than excited to move forward and resume some sense of normalcy, whatever that may look like from your perspective, it’s never been more important to continue to remain vigilant and exercise caution through social distancing, handwashing and the use of PPE measures, because we’re not quite in the clear, just yet. 

While many of us have had more downtime than usual - that is, those of us who are not homeschooling in some form or another, or trying to work from home with our new, live-in coworkers or, just wearing one too many hats - we’ve been creative and resourceful in finding activities to fill the longer-than-usual days. 

It’s as if time has slowed and we’re all forced to be still and reflect on things. It hasn’t been easy, but we’re making the most of it. We’re baking, we’re hiking, we’re cleaning and organizing our living spaces. We’re reaching out to friends and family, we’re stepping up our self-care routines, and some of us - the trendier ones, anyway - are creating masterful TikTok videos. Hats off to you. Whatever you’re doing, keep it up, because we’re all, more or less, in the same boat, navigating through the wayward waters of the Coronavirus, trying to make it to the other side of this pandemic.

The Redbud Group elects to err on the side of caution, while continuing to seamlessly operate with you in mind

Just a head’s up: The Redbud Group office is still closed to nonessential functions (outside of grabbing masks, gloves and disinfectant for our families and our clientele) as a preventative measure, but business is still booming, not only within our firm, but throughout the Charlotte market, as well. Zoom, Facetime, Google Duo and other forms of modern technology have made it possible to connect with clients, negotiate contracts, conduct due diligence and tie up loose ends just in time for settlement.

We’re adapting and adhering to local, state and national guidelines in order to help flatten the curve while also doing everything within our power to assist those families and neighbors that still need our help in securing the keys to their next home because sometimes, a move just can’t wait. Take a close look at transaction data derived from our local Multiple Listing Service courtesy of Brijal Shah, Realtor® and Director of Training and Sales Support at the Redbud Group.

Keys will continue to exchange hands as buyers and sellers still plan to make moves in the Charlotte market

Charlotteans are still buying and selling homes at a remarkable rate, all things considered. In a recent Redbud Group client poll, 94% of Charlotteans stated that they were coping well and 77.8% of respondents still maintained at least partial employment status. A third of participants are actively in the market to purchase and/or sell property during this time.

A few weeks ago, we published a blog post, Top 3 Ways Soon-to-be Sellers Can Make the Most of the SIP during Covid-19, which aimed to help those who are still planning to list their home for sale. The fact is, there are still buyers actively searching for homes at a variety of price points in neighborhoods throughout Charlotte and surrounding areas - our trusted vendor partners are working together with Redbud Group Realtors® to get our clients taken care of.

Winston Churchill said that if you’re going through hell, keep going. And while we all may be facing varying degrees of adversity, The Redbud Group’s fundamental commitment to creating great experiences through exceptional service is unwavering. We promise to keep showing up, going the extra mile and closing deals as safely as possible.

 

 

 

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