In addition to the lurking COVID-19 and growing economic turmoil, we’re all getting to know our families a bit better and develop innovative ways to virtually connect with friends and colleagues as many of our shelters-in-place became an official Alameda County order on Monday.
This, of course, stalls nonessential businesses. In addition to health care facilities, grocery stores, restaurants (for takeout and delivery) and other suppliers of essential goods and services, banks and financial institutions remain open under the order.
East Bay real estate technically remains open for business. We can tell you many of our agents are busy helping clients navigate a sale, and we are currently processing 83 transactions, compared to 72 this time a year ago.
The market remains active. In the week through Monday, March 16, we saw 181 new listings come on the market in Berkeley, Oakland, Albany, El Cerrito and Piedmont, nearly 30 more new listings than came on the market in the same period in 2019.
Source: Red Oak Realty analysis of MLS data.
However, with the new shelter-in-place order, and all of our increasing caution, open houses now become 100 percent virtual. Before the order, this past weekend we saw heavy visitorship to our 13 open houses with an average of 66 visitors per opening. That’s a lot.
On the East Bay Real Estate Frontlines
Maxi Lilley
Our agents reported busy open houses this past weekend and shared some details about them, which provides some insights into how the market is operating.
Maxi Lilley also held an open house for her Upper Rockridge listing 6011 Rockridge Boulevard. She estimates that between 65 and 70 people attended the opening on Sunday for the $2.6 million, five-bed, three-bath home.
Source: Red Oak Realty
Judy Richardson
“People seem somewhat unfazed or at least weren't discussing COVID a lot,” Maxi says, with some older visitors, which surprised her. Of the many visitors, just about a dozen were serious buyers, she adds.
Judy Richardson, on the other hand, reported most of the estimated 80 visitors to her weekend open house showings of 3554 66th Avenue in Oakland were serious buyers. The two-bed, one-bath home in Oakland’s Millsmont neighborhood is listed for $629,000.
Source: Red Oak Realty
Keith Maddock
Keith Maddock held an open for 2836 Esmond Avenue, in Richmond. He estimates that 110 people attended the showings for the $399,000-listed fixer-upper on Saturday and Sunday.
“Guests definitely had corona on their mind and the news,” Keith says. “But no one seemed over-anxious. They were super thankful I had hand sanitizer and soap and towels in the kitchen and bathroom.”
Have any questions about COVID-19 related to your home or a desire to purchase? Reach out to one of our agents. We can provide you with expert insight into taking smart steps for you and your family.
