If there is a silver lining to the COVID-19 pandemic, it’s that the residential real estate market is hot. Demand is outweighing supply making it very much a seller’s market. If you have been thinking about selling your home, now is the time. Much of the market’s increase has to do with the all-time-low interest rates, but demands in the local market served by Stutesman’s Action Realty (Northwest Arkansas, Southwest Missouri, and Southeast Kansas) can be attributed to the sudden “stay at home” orders from various government entities.
What types of properties are pandemic hot?
- Smaller second- and third-tier cities located outside urban areas have seen an increase in market activity amidst the pandemic and perhaps a market winner. An article published in The Business Times stated that these cities are “in a better position as the pandemic wanes.” Cities that promote healthy living such as the Northwest Arkansas, Southwest Missouri, and Southeast Kansas areas abundant with hiking, cycling, walking and many other outdoor activities with the gorgeous landscape backdrop are increasingly interesting buyers from much larger fast-paced areas.
- Real estate with acreage to accommodate a home site, hobby farming, and/or recreational property have had an increased interest with buyers from large metropolitan areas. Many buyers are looking for off-grid living and get back to nature.
- Americans were forced to slowdown and rethink how they live. Pre-COVID, many American families were busy working and rushing from one kid activity to the next (I’m not judging, trust me, I was doing the same thing) and suddenly those busy schedules were disrupted. In the beginning, we weren’t quite sure what to think of all this free time on our hands, but the longer the pandemic has gone on and events have been cancelled, the more we realize that we kind of like nesting at home. Many buyers are looking for larger homes and/or homes with more outdoor space to continue their newly found love of staying home.
Stutesman’s Action Realty has multiple properties in this pandemic hot market. Properties range from beautifully restored homes, home sites with acreages, commercial and agricultural/recreational land. If you are thinking of buying a property, the interest rates are great and if you are thinking of selling, it’s certainly a seller’s market in this area. For your next real estate transaction, you can trust Stutesman’s. Call today to speak to a real estate professional.