Real estate is booming amid the COVID-19 pandemic

Not having enough homes on the market was a problem in Tippecanoe County and surrounding areas before the pandemic, but now it’s even worse.

Posted: Jul 2, 2020 6:55 PM

TIPPECANOE COUNTY, Ind. (WLFI) - Many Industries have been hit hard by the coronavirus but the real estate industry isn't one of them.

"I would say it's definitely a seller's market," said LuAnn Parker a real estate agent with Keller Williams Realty.

In Tippecanoe County and surrounding areas, real estate agents are busy especially since more people are looking for more space amid the pandemic.

"I can say almost everyone is saying I need 3 bedrooms and an office,” said Parker. “I hear that a lot and I am always saying well can that be a flex space? Especially when you don't have much on the market.”

Not having enough homes on the market was a problem in Tippecanoe County and surrounding areas before the pandemic, but now it’s even worse.

"We have fewer properties available because some people are fearful of putting their home on the market and having everyone come through if it's not vacant," added Parker.

That high demand for homes has caused an increase in homes that are at a certain price range.

"I think we have gone up from maybe like 220 to 222 you know it's a gradual increase," added Parker.

Homes valued anywhere from 120,000 dollars to around 220,000 dollars sell fast, which is why agents say homes in that price range have seen a slight increase in pricing.

"We don't have the listings we need,” said Parker. “So if there were more people that would actually start releasing some of their fears and putting their home on the market I think it would definitely help us and your home would sell. There are buyers out there."

This is why if you are in the market to become a homeowner you may have to wait.

"Potential buyers need to know it’s going to take a while because there are so many other buyers especially if you are in that hot price point,” added Parker. “So be patient and find an agent that's going to be active."

Parker says that several of the showings she has done have been virtual these days and one of her clients has closed without ever seeing the house in person.

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