COVID RESIDENTIAL REAL ESTATE UPDATE

Dated: November 24 2020

Views: 71

Almost a year into the coronavirus pandemic and significant impact has been made across the world. As a result, we are now finding a "new normal" in prioritizing matters of the home.

Recent survey made by HomeLight surveyed approximately 2,000 real estate agents this quarter to shine light on how housing preferences have shifted during this pandemic. Here are the top THREE searched home factors: 

- HOME OFFICE. Studies have shown a significant return on this investment when compared to other home projects, as a result of millions of people working from home.

- MORE LAND & OUTDOOR LIVING. Allowing WFH residents to access open land, get fresh air, and bask in the sun without leaving their homes has been a major upside for those who have it. A small balcony in a condo or townhome can also be a huge advantage.

- SPACIOUS KITCHENS. Homeowners are enjoying more time in their kitchens, gathering their families in to this space, especially with limited takeout and/or dining options. 

Despite the pandemic, the real estate market in Colorado Springs remains strong as buyers are still out in full force. Many who have moved/are moving out here to escape city dwelling.

In fact, Colorado Springs was ranked the hottest real estate market in the nation by Realtor.com, 3x in a row, (making it the fourth time overall) and was ranked 4th BEST PLACES TO LIVE IN THE U.S. by U.S. NEWS. Major developments and projects have been springing up in the North with new construction and in the South with demolitions and renovations. Doesn't look like Colorado Springs will slow down any time soon.

Blog author image

Jennifer Lee

Jennifer is perseverant, honest, and possesses solid interpersonal skills to bring the best service for her clients. She makes sure to strike the “right balance" by empowering her clients with infor....

Latest Blog Posts

How To Think Strategically as a Buyer in Today's Market

How To Think Strategically as a Buyer in Today’s MarketThe game of chess can provide incredible lessons to apply to all aspects of life, including the homebuying process. Chess requires you to

Read More

New Construction or Existing Home: Which Is Right for You?

Homebuyers today are facing a huge dilemma. There simply aren’t enough homes for sale.1 Nationwide, there were 1.27 million active listings in September, down 13% from the previous year.

Read More

Why Now Is a Great Time To Sell Your House...

As we near the end of the year, more homeowners are realizing the benefits of today’s sellers’ market. Record-breaking home price appreciation, growing equity, low 

Read More