The COVID-19 pandemic has brought on a boom in the second home real estate market, reports the Coast to Coast Network real estate team. Their team covers over thirty markets including popular second home markets of Lake Tahoe, Aspen, Cape Cod, the Hamptons, and Miami. Coast to Coast is a real estate team of expert agents affiliated with Compass.
"The Cape Cod Market is bustling, I have been selling real estate in this market for over 26 years and have never seen anything like this. I listed a house this week and we had six competing bids and it is selling well over the listing price. Inventory has been cut in half in less than three months, it is surreal. List it and it will sell!" said Joan Witter of the Witter and Witter Cape Cod Connection team.
Elevating the real estate experience from a simple transaction to an undeniable art form, Coast to Coast agents curate the entire process to fit the needs and desires of their clients. Whether it be the purchase of a first home, an investment property, or a charming vacation getaway, the professionals in the Coast to Coast network serve as consummate advisors who can confidently choreograph a seamless and enjoyable purchase or sale.
"The Lake Tahoe market has never seen activity like this. Bay Area residents are flocking to the area as they realize they can work from home and they also want more space around them," says Nicole Blair from the Compass Tahoe team. "For example, in the month of July, our MLS has gone up 4% in New Listings, up 60% in Sold Listings, down 28% in Average Days on Market, and up 30% on Average Listing Price which is now equated to $1,140,000. The biggest problem realtors are facing right now is too many buyers with not enough inventory. We would have never predicted this outcome back in March."
"It has been a very unpredictable year with the pandemic," says Erin Ballard, Founder of Coast to Coast Network, "our network partners are adapting to this ever-changing market. We are confident the second home market will continue to trend upward. Our clients have voiced to us that if they are working from home, the location and amenities are paramount.”
Second-quarter numbers from the Coast to Coast Network are expected to rise from 2019 and will show insight as to a true picture of the 2020 market.
Erin Ballard, Founder, Coast to Coast Network, erin.ballard@compass.com, 214-549-4823
Jill Waterston, Media Relations, Coast to Coast Network, jill.waterston@compass.com, 214-232-0020
About Coast to Coast Network
Founded in 2018, Coast to Coast Network offers the highest level of service, expertise, and integrity in the real estate market. They incorporate a strong work ethic into their signature qualitative and quantitative approach to provide customers with the best real estate experience possible. Coast to Coast Network is a division of Compass Real Estate. For more information please visit www.coasttocoastcompass.com or contact via email at coasttocoast@compass.com.
Contact DetailsErin Ballard, Founder, Coast to Coast Network
+1 214-549-4823
Company Website