Homes are selling. Though the real estate market has slowed significantly, transactions are still happening. I listed a home in Los Altos Hills on April 3, went into contract on April 10 (with 2 offers), and closed escrow on April 13 for just over $4 million. It can be done, it’s just a new way of doing business. Safety first above all else. Virtual showings, in person showings for vacant homes, mobile notaries, electronic recordings – it’s all working. Together we can, and will continue to, do this.
Here’s an update on exactly what has happened since shelter-in-place on March 17. Every week I post an update at @kathybridgmanrealestate on Instagram and Facebook as well as on my Shelter-in-Place update at kathybridgman.com. Follow me there for the most current info.
Los Altos (3/17 to 4/17)
Number of new listings: 28 ($1,595,000 to $5,895,000)
Number of ratified contracts: 10, plus 2 with contingencies ($1,499,000 to $4,690,000)
Number of closed escrows: 21 ($2,200,000 to $6,348,000)
Number of current listings: 42 ($1,499,000 to $16,900,000)
Los Altos Hills (3/17 to 4/17)
Number of new listings: 2 ($3,995,000 to $3,998,000)
Number of ratified contracts: 4, plus 1 with contingencies ($3,600,000 to $8,699,000)
Number of closed escrows: 4 ($2,715,000 to $4,700,000)
Number of current listings: 17 ($2,995,000 to $39,998,000)