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NDR Blog

NDR Blog

Real Estate Update – 3rd Quarter 2020

Through the 3rd Quarter in Northwest Michigan!

Strange Year for Real Estate

We have completed the third quarter of a very interesting year. Going from shutdown from work for close to 60 days, and heavily restricted for about 30-45 days after that, the demand has really pent up over these last six months.

 Increase In “Out of State” Interest

We have noticed that various price ranges in our area remain just as high demand as they were before the pandemic (some more competitive now). As price ranges start to become more competitive, it is interesting to look at the factors that drive the purchase of real estate in our community.

 What Realtors are Saying

Many Realtors have mentioned how they have seen an influx of “out of state” buyers that are moving to the area because they are able to work from home. We too have seen an increase in the non-local buyer interest in our area. There could be many reasons for this, but we think it is likely one of the symptoms of something like a wide scale pandemic.

 The New Opinion on Mobile

When people where forced to make working from home “work” I believe it improved the public’s opinion of working from home by a factor of multiple years in just a few short months. People seem more interested in the lifestyle that they can have while they work, and not the other way around.

 Technology is here to Help

People are more open to being digitally available to people and the technology of the day is only making this easier. Using platforms like Zoom, Google Meet Up, Facebook Messenger, and other Applications, people can meet up with fairly reliable connection from anywhere there is an internet connection.

Through screen sharing applications people can share documents and manage large scale projects with excellent precision while being in different areas as well.

 All In All

The real estate market in Northwest Michigan is constantly changing and developing as time goes on. Our area naturally will always be a spectacle to new people. Coupled with our food and culture, there is a chance that visitors might look into why us Michigander’s love our home.

Demand has been robust in past months and the real estate inventory in some price ranges has been low (driving demand even higher).

 

THANK YOU

I hope everyone has a fun and healthy start to the Holiday season this October!

Josh Haselton, Principal Broker

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