August may have been the strongest month of home sales ever!
Usually we would be talking about the summer coming to an end with the kids going back to school this time of year, but this is 2020. With most kids going back to school virtually it has extended the vacation period well into September and October for Sandbridge. I have been hearing of very high occupancy rates for the fall. It’s a great time of year so it’s understandable that families are looking at alternative vacation times. My family will be taking a week in October to spend on Hatteras Island.
Now for real estate news. August has been the strongest month of sales that I can remember and I have been a Realtor in Sandbridge since 2004. I truly believe that the reason for this run up in sales is the low interest rates and COVID-19. Families are moving here from more urban areas like Northern Virginia because of the ability to work remotely. There is also a bit of what I call the YOLO (you only live once) effect. Families are saying to themselves “if not now, when?”. If you own property in Sandbridge and have been thinking about selling this could be an opportune time!
Activity for past 30 days is as follows:
Single Family Homes – 14 Sold and 11 Pending (*8 contingent on home inspection)
Condos – 2 Sold and 1 Pending
Market Metrics – January 1, 2020 – August 27, 2020 Year-to-Date
Current rates courtesy of Liza Gibboney-Fairway Mortgage
NMLS# 243062 | Cell: 757-630-9604 | Office: 757-932-8497
Jumbo 30 year – 2.875
VA 30 Year – 2.375
Conforming Conventional 30year – 2.625
Normally I would be encouraging everyone to attend the 41st Annual Pig Pickin’, but as many of you know its been canceled, but the need for funding the Rescue Squad is still there. I am including a link to donate. Please give it some consideration as this is a vital service for our community and they need our support.
Enjoy the rest of the summer and I’ll leave you with a short video from my good friend, Chris Reckling, a Sandbridge homeowner and broadcaster for WAVY TV-10, showcasing our very own Lotus Pond. (hint, its a great way to reduce stress)
Aloha,
Pat