What’s Changed in Real Estate?

 

As businesses are re-opening and the population is becoming accustomed to going about their daily activities with precautions and social distancing, the real estate market has picked back up from where it left off in late March.

 

But, of course, things look different.

 

Now, we wear masks, gloves and booties when entering properties and videos, 3D floor plans and facetime viewings have become expected and normal. Even our open houses are by appointment only and buyer traffic is more controlled. Like everything we are doing these days, these changes are simply what we must do as a community to deal with the current health crisis.

 

But, what’s really different is how people are thinking about “home.” Two and half months of full-time occupancy in a home certainly forces one to think about what’s important.

 

Not surprisingly, there’s an increased value being placed on outdoor spaces, particularly in the city. However, this demand is also pushing buyers to look outside of the city. The immediate suburbs surrounding Boston are seeing a boom. This is particularly happening with young families who compromise on space to take advantage the city’s urban offerings. Without being able to access all of the city’s usual amenities, city living isn’t what they want right now.

 

Additionally, some of our die-hard city dwellers are considering downsizing their Boston homes in order to purchase a second home elsewhere, with more space, land, and the option of an escape. And, we’ve also seen an increase in inquiries for small one-bedroom condos, the perfect alternative for a college student whose parents would prefer their son or daughter to stay out of the dorms.

 

Change is a constant factor in real estate, and it has always been. But even post-Covid, there is something that hasn’t changed: our passion and ability to be there for our clients and to help them find their homes despite change and uncertainty.