Buyers are Active!
In the Bay Area, the housing market has made a strong come back since the start of SIP (Shelter In Place). Tour requests are up, homes are selling in 7-14 days, and buyers are coming in hot! Check out the top criteria that buyers (possibly your competition) are searching for as we continue towards a work-from-home and SIP lifestyle.
Single Family Homes
Market data shows an increase in searches for single-family homes over condominiums. Both renters and trade-up buyers are taking this opportunity to find a single-family home because it is the full package that offers more space, privacy, access to the outdoors, and less exposure to surrounding neighbors.
While single-family homes are at the top of the searches, there are many smaller condominium options that fit the bill. For example, smaller 2-4 unit condominium buildings are great to consider while maintaining a social distance from neighbors while having efficient square footage and outdoor space. Also, often at a lower cost to a single-family home.
Home Office or "Zoom Room" (As I Like to Call It)
Top on the list for many prospective buyers is a room for a comfortable work-from-home office with privacy capabilities to stay focused during the daily rounds of Zoom or video chat meetings.
More Square Footage
While we are encouraged to stay home, having more space to roam around becomes essential. "Stop bumping into me!" This allows each member of the household to spread out, have their own space, and move freely throughout the home.
Outdoor Space, or Access to Outdoor Space
Homes with suitable backyards, decks, swimming pools, or outdoor patios are a must-have for prospective buyers. A close substitute is easy-access to outdoor space, like a nearby park or hiking trail for example. Outdoor space is a key feature that makes SIP more enjoyable and provides the ability to get outside from the comfort of your own home.