Total real estate sales volume, also known as dollar volume, has bounced back for the year. The total real estate sales volume is the sum total of the actual closed price of each sale. This results in the total dollar volume of sales.
When prices are up and sales are up, dollar volume must be up. The same is true when prices are down, and sales are down. We know total dollar volume would be down as well. Sometimes prices are up, and total number of sales is down, and vice versa. Therefore, we look at the total dollar volume of sales, or total real estate sales volume.
This metric is another indicator of the overall health of the market. We reported back in June when May’s official numbers were released that total real estate sales volume was down 42.7%. That hurt, and of course was a direct function of covid-19 and the stay at home orders the nation was under in March. Of course, Florida was under a stay at home order in April, as were other states.
Realtors learned to adapt. Buyers were itching to buy, and they still are to this day. We found a way to make transactions happen even in a pandemic. The good news is we are back to the plus side for the year. You will note, total real estate sales volume was up 1.5% over June of 2019 numbers. While this is fantastic, it is not what brought us back to the plus side for the year. January, February, and March are what did it. We were in a fantastic market pre-covid. The great news is, we are getting back to a positive market again.
Interest rates are historically low, and the stock market is doing well. The economy is doing better than expected given that states are not back to 100% open yet. Some are wondering how mortgages in forbearance will affect the market going forward. Nobody seems to know. All we can say is the top Realtors learn to adjust their marketing in times of shift. Top agents learn to pivot on a dime. This is exactly what we did when covid-19 hit, and the Ellis Team sales numbers are up over last year.
Many local Realtors numbers are up, and many are way down. The Realtors that pivoted and adjusted have done well, while those that did not market or keep up with their database have not.
The Ellis Team has several databases. One of course is our past customers. With over 5,000 sales in Lee County over the years, we have maintained a pretty healthy past client database. The other database is buyers who are looking to make a move. We have 10,677 right now in our database, so chances are, if you have a home to sell, we may have the buyer for it.
Our database is pretty neat. When we take a new listing, we can search our database and see how many of the 10,677 are viewing properties on our site that match that home’s criteria. Of course, we are adding to the database every day. We spend thousands of dollars each month on the Gold Standard digital package, so we receive the best leads around. Some of these leads are local, and some are out of state looking to make a change.
One thing we know for sure is, many of the buyers are coming from high tax states. Other buyers are looking to escape the city life and get more rural. We can target both buyers, and this is why Ellis Team sales are up, even in a pandemic.
To get your home sold Fast and for Top Dollar, Always Call Brett or Sande Ellis 239-489-4042 Ext 4 or visit www.SWFLhomevalues.com to get your online estimate instantly. We look forward to speaking with you!
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