My last article reporting on real estate market trends alluded to the fact that our homes have either become our sanctuary or our temporary prison since the lockdown mandate more than a month ago.
The Shabbat after Purim, we began to follow enforced restrictions regarding close social contact. Shuls shut down, and so did all public events and gatherings. As we continue to adjust to these changes, it is time to enumerate with our families the good that has happened during this unprecedented time. I came up with a list of unexpected positives we’ve experienced, and you’re welcome to do the same.
– I cut my husband Bobby’s hair in our master bedroom bath turned hair salon.
– My high school granddaughter is finally reading novels for pleasure.
– My twin grandkids in Israel are doing magic tricks, and my other grandchildren in Englewood are riding bikes and are by now almost eligible to join the Tour-de-France.
-All my dry pens that have been sitting around for 30 years have been chucked, and my closets are cleaned out.
-I’m no longer adhering to a daily makeup routine. Who sees my face anymore anyway?
-I’ve been taking long walks since there’s nothing else to do.
-I attended my niece’s wedding and sheva brachot on Zoom.
-I’ve been listening to Shiurim on demand constantly.
-I assumed the role of non-certified medical adviser since I both freely take and give advice about COVID-19. (There’s not much else to talk about.)
-I experimented with new recipes.
-We’ve been enjoying family “staycations,” as the Jewish Link puts it.
-On Shabbat as we used to have everyone talk about their favorite part of the week, but now during Shabbat meals we ask the children what was one positive thing they did this week that they might not have done otherwise (prequaratine).
We may be finally getting back to the “new abnormal,” which will encompass…who knows what? For those of you who think that the pandemic has wreaked havoc on our present housing market, guess again. In our community, we are still seeing multi-offers and multi-competitive bids. Houses, believe it or not, continue to sell timely. One buyer only saw the home virtually and came in with the highest accepted offer. There goes the motto, “seeing is believing” since today “seeing” includes only videos and pictures online.
In March, reports indicated that single family closed sales were down 5.1%, townhouse-condo sales were up 2.6% and adult communities closed sales up 44.4%. Surprisingly, home sale prices increased across the board. Single family median sale price increased 8.5% to $460,000, townhouse-condo median sales price increased 2.9% to $339,500 and adult communities median sales price increased 4.7% to $335,000.
This monthly snapshot comes in light of the stock market’s decline, which started in February. As the market grew more volatile, lenders also began tightening underwriting standards. Because of this, some buyers found out they were no longer approved for the loan they needed for their purchase. New Jersey reported that more than 155,000 people filed unemployment claims in a single week––up 2,000% from the same time a year ago. Indicators predict that some active buyers may put their home purchase plan on hold for now, at least temporarily.
Hopefully, this information gives you a picture of the house market thus far while effects of this pandemic remain in the near future. Remember to think positive, focus on the good and stay safe and healthy.
Ruby Kaplan is a realtor licensed in both New Jersey and New York. Visit www.rubybobbyhomes.com for more information. The Ruby and Bobby Kaplan team/United RE/ will promote your home with the best of social media and create alerts for your criteria of housing needs. Your Housing Needs Are Our Priority! Ruby can be reached at 201-314-4152 or on her cell at 917-576-4177 or at [email protected].
