The COVID-19 pandemic has caused huge changes in almost every aspect of people’s daily lives. We have had to rethink how we do things, and a lot of us have started working at home in order to prevent the spread of the pandemic — the real estate industry is no exception. Fortunately, there are many protocols in place to protect the health of both buyers and sellers during the pandemic. Your real estate agent is the best person to ask if you have any questions about these ongoing trends and how they may affect your real estate experience. So, how has the pandemic affected Real Estate?
Open Houses
A staple in the real estate industry, open houses have changed significantly over the last nine months. Although typical open houses aren’t as common as they used to be, there are many options available that will ensure the safety of everyone involved. Socially-distant open houses are seen quite frequently, and most realtors, buyers, and sellers will wear masks as an added precaution. However, if not everyone is comfortable with a socially-distanced open house, sellers can offer a virtual video tour through the property, or provide photos of the building online. Make sure you talk to your realtor to find out what safety measures are in place before you attend an open house.
Location
While working from home was already a trend, since the beginning of the pandemic, it has become significantly more common. This means that for many people, the location of their home doesn’t matter as much as it used to. Anyone who is working virtually no longer needs to live close to their workplace, especially if they anticipate the remote work to continue well into the future. Selling your home remotely is another growing trend that you may want to take advantage of. By working with the top realtor in Victoria, BC, you can expand your horizons and look for a home in different areas of the city, as well as make sure your new house has a spacious home office and anything else you may need. If you’re interested in what we have available, please visit our beautiful Listings Page.
Prices
Overall, real estate prices have been climbing since the beginning of the pandemic. Dropping interest rates have been an important factor in causing this trend. This is great news for anyone looking to sell. Whether prices continue to rise will depend on several factors including how long the government continues to offer financial assistance and how severe the pandemic is going forward.
How Has The Pandemic Affected Real Estate:
There have been many changes in the real estate industry since the beginning of the COVID-19 pandemic. What hasn’t changed is that your realtor is there to support you every step of the way, whether you’re buying or selling. Have any questions about how the pandemic will affect your real estate purchase or sale? Whether you’re unsure of how to implement open house safety protocols or wondering who is responsible for sanitizing a house after closing, be sure to contact the Best Realtor in Victoria, BC. Our team will take care of all your real estate needs and answer any questions you may have — making sure that you feel comfortable and safe on every step of the journey to your new home.