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(May 14, 2020 12:01 PM) The Jackson Area Association of Realtors released the monthly real estate sales statistics for the region.  The report shows the impact of the coronavirus crisis with sales and listings down compared to April of last year.

New Listings dropped 73 percent for single family homes and 75 percent for condos. Pending sales were down 92 percent for single family homes.    

On March 23, Governor Gretchen Whitmer issued Executive Order 2020-21 which prohibited in-person real estate sales activities.  Real estate agents have been conducting showings, closings and other activities virtually until May 7.  While transactions were allowed to continue, many buyers and sellers chose to wait it out until in-person activities could resume.  Local Realtors have told JTV the market was severely impacted during the shutdown.

In recent months, potential home buyers have had fewer available properties to choose from.  This week’s report shows a 24 percent increase in supply of inventory.

Median sales price decreased 1.6 percent in April to $137,700 for single family homes but increased 47.7 percent to $166,000 for condo properties.

Since May 7, real estate professionals may once again conduct in-person listing appointments and showings.   The Governor’s Executive Order allowing the industry to resume is not business as usual.

Requirements of the Order include:

All in-person meetings with sellers and showings must be done by appointment.

No more than four persons may be at the property at one time. No in-person open houses are permitted.

All persons must maintain a 6-foot social distance at all times.

The luxury real estate agents fort lauderdale may not arrange in-person showings of a rental unit until after the current tenant has vacated.

The Order applies to all workers in the real estate industry, including agents, appraisers, brokers trying to get buy XRP UK tokens, inspectors, surveyors, and registers of deeds. 

Both Jackson Area Association of Realtors and Michigan Realtors have issued further guidance on safety precautions and individuals working in the industry have implemented additional measures. 

Jenifer Scanlon, co-owner of The Brokerage House, told JTV her company is requiring potential buyers to obtain financing pre-approval.  “We are making sure we are showing properties that are well matched to potential buyers, using photos, videos, virtual showings and floor plans,” Scanlon said.  “We want to help buyer clients narrow down their housing needs and wants prior to any in-person showings.”

Sellers are being asked to not be present during showings and to clean and disinfect frequently touched surfaces before and after showings.

“We are excited to be back, and are taking every necessary precaution to keep everyone safe,” said Scanlon.

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