Real Estate and COVID-19 are two things that would have, if predicted beforehand, spelled out misfortune for all parties involved except opportunistic investors. But in reality, the market kept pushing through. For example, according to the NAR the following are the most resilient markets during and after the pandemic. In alphabetical order, the Top 10 markets showing resilience as COVID-19 impacts real estate are:

  • Atlanta-Sandy Springs-Alpharetta, Georgia
  • Boise City, Idaho
  • Charleston-North Charleston, South Carolina
  • Dallas-Fort Worth-Arlington, Texas
  • Des Moines-West Des Moines, Iowa
  • Indianapolis-Carmel-Anderson, Indiana
  • Madison, Wisconsin
  • Phoenix-Mesa-Chandler, Arizona
  • Provo-Orem, Utah
  • Spokane-Spokane Valley, Washington

Map: Top Ten Markets During and Post COVID-19

Local Impacts on Real Estate

With limited inventory and an incredible selling rate at a median of three weeks, no one is really shocked that home prices continue to push upward across the U.S. What’s more, historically, the surge in prices isn’t new. It has, in fact, continue to rise for about the last 9 years. NAR numbers show us that, “the median existing-home price rose to $310,800 in November; 15% more than a year earlier; 41% more than five years earlier.” Considering the predicted effect of COVID-19 on real estate – those statistics are pretty significant.

What about locally? Well, if you look at the numbers, specifically the top 5 counties in the COUNTRY with properties valued at over a million dollars, three of them are in California. So while the impacts of COVID-19 on every side of the real estate industry has been felt globally… California continues to fare well in this regard and shows no signs of slowing down too much if at all. The areas we, the Astman Group, work in show essentially the same results as COVID-19 continues to affect the real estate industry.

In Woodland Hills, you only have a handful of properties in the 600k to 900k range and everything else is pushing past a million easy. West Hills, Encino and nearby areas have essentially the same figures. Calabasas and the rest of the areas we cover, have maybe 1 or 2 similarly priced/sized homes and the rest are booming past 1, 2 million and into the 5 to 30 plus million zone. Growth was predicted. The world and real estate itself was hit with the COVID-19 pandemic. Growth continued.

The Future for COVID-19 , Real Estate and the Market

As for predicted growth, whatever the accuracy in the past, it always merit careful research and advice. Trends show growth is set to continue in Calabasas, West Hills, Agoura Hills, Tarzana, Encino, Hidden Hills and the other areas we work in. No one can predict the lasting consequences of COVID on real estate. But so far, no doomsday has arrived. The markets continue to show resilience. And buying and selling is encouraged. If you’re interested in selling or buying in any of these communities, I am here to help.

Written by : Yoav Astman

Yoav has been helping clients for over a decade with their residential and commercial needs specializing in the Westside, Los Angeles, San Fernando Valley, and adjacent Greater Los Angeles areas.

Yoav is one of the most trusted real estate professionals in Southern California. His passion for excellence and dedication to customer satisfaction sets him apart from his professional peers which makes him a wonderful choice to meet all of your real estate needs.

Yoav, along with the Astman Group, have been serving Calabasas and its surrounding areas for years. As a luxury real estate agent, Yoav has sold or helped buyers acquire real estate in Calabasas, Woodland Hills, Agoura Hills, Hidden Hills, West Hills, Tarzana, Encino and much more.

Luxury Real Estate in Calabasas is a very competitive market and Yoav has been able to not only maintain a prestigious reputation across his network but he has also been able to exceed buyer and seller expectations time and time again.

Looking for a home in Calabasas? Woodland Hills? Agoura Hills? Or any neighboring community? You've come to the right place. Yoav Astman is the luxury real estate agent you've been looking for.

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