The Coronavirus and Johnston County’s Real Estate Market

Frontline Healthcare Workers

Today, we are about 30 days since our lives in Johnston County dramatically changed due to COVID-19. Our team here at Jaclyn Smith Properties started working remotely on Monday, March 16th. For others, the official stay at home order for North Carolina was enacted on March 27th.

Thinking About You!

From March 27th on, the overwhelming majority of those in our community have been talking about the Coronavirus.

Reid and I have been and continue to be heartbroken over all those who have been impacted by this evil virus.

We pray for all of you daily and all the unsung heroes that are sacrificing so much to make the best for all of us.

A number of our clients and our REALTORĀ® friends have reached out to ask us what’s going on with the Johnston County real estate market in light of our current situation. So here is our first update.

Number Graph

By the Numbers

Below are some of the numbers I’ll be sharing and how those numbers have changed year over year and year to date. These numbers will identify how many new listings hit the market in March, how many homes closed in March and the median sales prices of homes for the month of March.

Megaphone

Stay Tuned!

It’s important to know that the real impact of COVID-19 didn’t really start until late in the month of March and shut down the US economy. For this reason, our next blog post will tell you the definitive impact of COVID-19 on our housing market in Johnston County so stay tuned!

Johnston County Real Estate Market Data

For the majority of the month, our real estate market was very strong! All of the year-over-year and year to date sales numbers were up. The only metrics that were down applied to inventory. I’m sure this will continue in light of the virus.

Johnston County New Listings & Closed Sales Data

Both March year over year and year to date sales numbers were strong for the month of March for new listings and closed sales.

Johnston County Median Sales Price

It wasn’t until the end of March that we saw the median sales price drop below last year’s median sales price numbers.

We would be remiss if we didn’t let you know that buyers who need to buy a home are buying. Sellers who need to sell, are listing their homes. To further prove this point, our team placed 10 homes under contract and 5 homes closed in the past 7 days.

Jaclyn Smith Properties

Lest We Forget!

It’s important to note that prior to the coronavirus attack on the US economy, we were enjoying the longest job and economic expansion ever recorded in our nation’s history. We were on track to sell more homes this year than ever before! In addition, our economy was experiencing double-digit growth year over year until the middle of March.

Beyond the Numbers… We are Here to Help!

Now that you know what has happened in the Johnston County Real Estate market for the month of March if there is anything we can do to help you or your family (NOT just real estate), please don’t hesitate to contact us.

Leave a Reply

Your email address will not be published. Required fields are marked *