The Boston real estate industry has remained open during the pandemic but we have more rules. Back a year ago in-person showings
Today, Boson condo buyers and apartment renters are using and demanding virtual tours and even making offers before they toured the condominium or apartment
Here we are a year later with many more people infected with COVID-19 and homebuyers who want to tour as many homes as possible even before they are in a position to make an offer.
People like to see homes in person and they want the experience. It isn’t enough to shop online. The pandemic hasn’t changed the way people want to shop but has changed the way they can shop right now.
There are those in the Boston real estate industry who are predicting that the pandemic will forever change how people shop for and buy downtown Boston condos and rent apartments. I am on the fence on this one, I do see apartment rentals heading in this direction, but not so sure about buying a million dollar high rise condo for sale
This isn’t the best of times for homebuyers but things will get better as more people get vaccinated and the downtown Boston real estate market hits the Spring market and we have more listings for sale
I can and do sell Boston condos for sale and apartment rentals without in-person showings. But I don’t advocate it. I think its a great way to eliminate options, but to take the next step can be risky.
Updated: Boston Real Estate Blog 2021
In a year when we’re learning to do so much remotely, Boston condos for sale is no exception. From going to work to attending school, grocery shopping, and even seeing our doctors online, digital practices have changed the way we live.
This year, rather than delaying their home purchases, Boston condo buyers – alongside their trusted Boston real estate brokers – turned to the Internet to do more than just a typical home search. In some cases, they bought homes without even stepping foot inside. Jessica Lautz, Vice President of Demographics and Behavioral Insights at the National Association of Realtors (NAR), says:
“People really didn’t buy houses sight-unseen, traditionally. It’s still not a huge number, but it has gone up, and we have definitely seen that trend accelerate.”
According to NAR, throughout the coronavirus pandemic, one in every 20 homebuyers purchased a house sight-unseen.
Today, real estate professionals are using digital practices to help homebuyers and sellers walk through many steps in the process virtually. While following the regulations set forth by the CDC and all local guidelines, this year, agents quickly empowered buyers and sellers with virtual tours, 3D floor plans, high-quality photos, videos, online open houses, and more. For those who had homebuying and selling needs in 2020, trusted advisors made it possible in many markets.
Here’s a graph showing some of the digital options buyers found most helpful in their searches this year, as noted by NAR in the 2020 Profile of Home Buyers and Sellers: The report also mentions that buyers this year generally searched for eight weeks. Throughout that search, they viewed a median of 9 homes, but not all of them were seen in-person. Yahoo Finance notes:
“Buyers viewed five homes online and four homes in-person during the pandemic, compared to nine homes in-person in 2019, according to NAR. This was the first year NAR asked buyers to specify the number of homes toured virtually.”
In true 2020 fashion, virtual practices helped buyers safely narrow down their top choices, so they didn’t have to unnecessarily walk into more homes than they needed to see throughout the process. Here’s the breakdown by region: At a time when health and safety are top priorities, current technology is making it possible for condo buyers and sellers to move their real estate plans forward at their own comfort levels, even through a worldwide pandemic. For many, this means buyers no longer have to physically tour every home they want to see, and sellers don’t need to open their doors over and over again throughout the process. Safety can come first and trusted real estate professionals are here to help.
If you’re ready to make a move, you may not have to press pause on your plans this season. Let’s connect to determine the safe and effective options to buy or sell a home in our area or wherever you’re looking to move.