Weekly Wrap Up - April 25th to May 1st

Weekly Wrap Up - April 25th to May 1st

Hello Sudbury! Spring is definitely in the air today - what a beautiful sunny Friday afternoon! David Kurt is on the mic today to give you the update on what is going on in the Sudbury Real Estate Market! So grab a drink, go sit outside and tune in! 

We're just over 40 days since Doug Ford has closed down all nonessential businesses! We've almost hit 60 days since life as we know it has been completely changed and tilted upside down. Our small March break extension has turned into a very long one for a lot of the parents that are home with their kids right now (Huge shoutout to all of you teachers for all that you do)! 

A lot of clients have been wondering what is going on with prices and market activity amidst it all. Two weeks ago, David predicted we had hit bottom in terms of transaction activity, with 15 sales and 15 new listings week over week. We were at the point where it seemed like the market could not get any slower. This week proved that point as we are starting to see a come back! 

The bounce back started this week, with 17 sales. The biggest shock was the 10 conditional sales in addition to the 17 - which could bring it to potentially 27 sales this week! Just over 40% of the sales were in multiple offers. Again, this trend remains a strong one in this week's activity. There were 37 new listings this week, which is up 15 from last week! This is definitely refreshing to see! We are entering the most uncertain and interesting Spring market place for real estate Sudbury has ever seen. Dave's biggest takeaway is that we can be "open for business" for those that need us during these times, but we need to shift and adapt to be virtual and safety first. He shares a recent post that moved him, "If you're not in front of your audience showing how virtual solutions can help people make the choices they need to make - you're already being left behind in the industry".  This resonates with Lake City Realty as we pride ourselves in being cutting edge and ahead of the curve. We need to be in a position where we're teaching consumers what virtual first real estate looks like. 

We hope everyone has an amazing weekend! Don't forget to show your support for Lake City Realty's Selling the Rock Podcast! It's one of the ways that allow us to continue to connect with our local Sudbury community during times like these. Like, share, comment or leave a review! Stay tuned for next week's Wrap Up!