Just like that the summer market has come and gone. Despite a slow start to Q2 as we learned how to navigate the market through these uncertain circumstances, we have seen a substantial increase in buyer demand. Spending more time within our same 4 walls has led to a shift in what we value in a home, pushing buyer needs. The current climate has led to an interest in larger home footprints with outdoor areas, extra rooms for office or fitness areas, and in-home entertainment escapes such as movie rooms or wine storage. Read on for the top trends we’re seeing in the market right now.
Top Buyer Trends for a COVID-friendly living experience
Staying indoors 24/7 without the ability to even sit outside at local parks or restaurants shifted many buyers’ perspectives on the importance of outdoor space. Having a small yard or balcony allows for a breath of fresh air over morning coffee, evening drinks, or just enjoying the sounds of the city over a great book. Many studies have also reported that spending time outside can lead to boosting moods and relaxing the mind.
Working at the kitchen counter or from the coffee table was okay for a few days, but after a few months it’s no longer cutting it. Buyers are now factoring in the possibility of long-term or even permanent remote work resulting in a search for homes with a space where they can work efficiently. Home offices can range from a full room with doors for privacy, or hiding from the kids, to creating an office nook off the kitchen or bedroom.
At-Home Entertainment Spaces
With limited places open to spend evenings and weekends many buyers are opting to create their own entertainment at home. These spaces include large open living areas, wine cellars and wet bars, game rooms, and screening rooms are just a few examples that are fun for you and the family.
With gyms closed, ways to maintain physical health has been another trend. While touring homes we find our buyers asking us where they can fit their yoga mats, free weights, and Pelotons.
Investing in small improvements or repositioning certain rooms in your home towards a more COVID-friendly lifestyle may increase buyer interest in your home. Keep in mind that the market is experiencing shifts daily. Low inventory is still a concern, but we did see a slight increase by the end of Q2. Contact us to hear what is happening and determine the best strategy for your needs.
Stay healthy and stay safe,
Mary & Margaux