Lynn North's 2021 Market Update
Even as we are beginning to open up after the pandemic, we continue to see a strong demand with limited supply. Virtual tours and photos are still the way a majority of buyers are previewing new listings and then deciding to see them. We are arranging showings by appointment, which is more private and safe too. Brokers’ tours and open houses are resuming with COVID guidelines still being in place (masked and alcohol wipes for safety). Buyers continue to be picky and prefer homes ready to move in with more space to accommodate their work at home needs.
With lenders, plan on 30-day close of escrow timelines and some appraisals are not coming in at the contract value, due to the low inventory and fast pace of the market with so many multiple offers for the few homes that are on the market. Sign-offs are by mobile notaries, so the real estate processes are still quite effective.
Please don't hesitate to call, as I can help you with any of your real estate needs.
In the meantime, stay safe and be well!
Note the updated luxury Santa Clara Spring 2021 market report below.