Blog > Q: What’s Happening in Our SD Real Estate Market?

Q: What’s Happening in Our SD Real Estate Market?

by Maloney Real EstateJuly 30, 2020

Here’s what you need to know about our summer real estate market.

Sellers are starting to feel a bit more comfortable with open houses, and many have asked us to reincorporate that into their marketing plan. Those participating in open houses may be required to wear a mask, their your shoes, and use hand sanitizer.

At Maloney Real Estate, we offer a 3D Matterport tour, which allows you to take a virtual walk-through of a property you’re interested in seeing. From the comfort of your living room, you can experience the inside of any home in town that we’ve listed. Not only is this more convenient, but it also increases safety by minimizing the physical traffic through a home. 

We’ve seen a jump in buyer interest lately, though sellers remain apprehensive in comparison. Back in March when the pandemic hit, we had plenty of people who were going to list but decided to hold back. Then, interestingly enough, we experienced a frenzy due to low interest rates and general uncertainty surrounding the economy—everyone wanted to get their real estate goals accomplished as soon as possible. 

Right now, you have remarkably low interest rates and tons of interested buyers out there.

This summer, we’ve been busier than we’ve ever been. It’s true we don’t know what the future will hold, but that represents an opportunity for sellers. Right now, interest rates are remarkably low and there are tons of interested buyers out there. If you’ve been thinking about downsizing and spending half the year in Arizona or Florida, this might be the time to put that plan into motion. Certainly, our company can provide you with a market analysis to help you determine whether it makes sense to sell given your particular situation.  

The opportunities aren’t just on the selling side, either; those low interest rates mean buyers can afford a bigger or more expensive home now than they would have been able to in the recent past. On our Facebook page, we’ve shared plenty of infographics that show the relationship between decreasing interest rates and increasing affordability. 

If you have further questions about our market or want to chat about your real estate goals, feel free to call or email me. I’m here to help.

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Michelle Maloney CRS, GRI

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