March was roaring and April is hopping! April is normally one of the busiest months in the real estate world and, based on a local study we did a few years ago, it is the month when the largest number of new homes are listed. This chart shows just how busy March was and that April is following suit.
While an almost 48% percent decline in active listings is eye catching, it does not mean that the number of people who want to sell has been cut in half this year. Across Hampton Roads, there were actually 60 more homes listed in March 2021 than in March 2020. Buyer demand is driving the huge reduction in active listings and the increase in the median sale prices.
Keep in mind as the spring numbers come in, the year over year comparisons will be skewed due to the Covid shutdowns last year. No matter how skewed the numbers may be, it is clear we are in a screaming hot seller’s market.
If you are on the fence about selling we are always happy to give you a free market analysis on your home. No obligation on your part, but you may be surprised to see what your home is worth in today’s market. Just reply to this email, or give us a call (757-726-7653 for Lee, 757-434-9084 for Harry). We love talking real estate, so don’t hesitate to give us a call if you have questions.
Work With What You Have!
Since 2020, we’ve been seeing record low housing inventory. We know how frustrating this is for you and your clients on the hunt for their dream homes. A solution: Work with what you have.
When the perfect home isn’t on the market, renovation loans can help your clients achieve their homeownership dreams.
How a buyer can benefit:
- Customize the home to their preference
- Finance the cost of repairs, remodeling, or energy improvements
With a variety of renovation loan options to choose from, we’ve got you covered. Reach out to me to talk about how we can work together in today’s market!
Bill Duggan Sr. Mortgage Banker 757-615-5172 or billduggan@atlanticbay.com
Let’s Go To The Movies!
Shrek At the Park
Load up the kids and head to Bennett’s Creek Park on Saturday, May 8, 2021, for a Carpool Cinema showing of a family favorite, Shrek.
This event is FREE and open to the public, however pre-registration is required by car.
To register, click “Register Here” under Carpool Cinema at SuffolkVa.us/Parks. After registration, save your confirmation email for entry into the event.
Who doesn’t love this classic romantic comedy? Boy meets girl complicated by life in a swamp, an evil lord and a talking donkey. Voices include Mike Myers, Eddie Murphy, Cameron Diaz, and John Lithgow.
Bennett’s Creek Park is located at 3000 Bennetts Creek Park Road, in northern Suffolk. For more information about this event, contact Suffolk Parks & Recreation.
The Farmer’s Market is Back!
Opening on Saturday, May 1st from 9am until 1pm, the Farmers Market is back at the Suffolk Visitor Center Pavilion. Located at 524 North Main Street in Downtown Suffolk, the Market will continue each Saturday through November 20, 2021.
Admission is free and open to the public. This family friendly market offers an array of fresh local meat and produce, plants, flowers and other artisan crafts. For a complete list of vendors and ongoing activities, visit SuffolkVaFarmersMarket.com
Opening day will feature live music by singer/songwriter Justin Luke McCurry; complimentary balloon creations by Animals & Arches; gourmet grilled cheese sandwiches and soups will be available for purchase from Jessie Lou’s Food Truck. Special guests include Suffolk’s Early Childhood Development Commission, Suffolk Master Gardeners, and local authors, Sarah Newland and Wanda Roberts.
Multiple hand sanitizing stations will be located throughout the Pavilion. Social distancing and face coverings are strongly encouraged.
For more information, visit SuffolkVaFarmersMarket.com or call the Suffolk Visitor Center at 757.514.4130. The Suffolk Farmers’ Market is produced by the City of Suffolk Division of Tourism.
