Flip on the news and you'll see stories of economic mayhem; anxiety levels and loneliness are up and 401ks are down. Through it all, Sun Country real estate is taking its COVID-19 punches like a prizefighter.

Virtual tours, sight-unseen addendums, and creative workarounds to deal-making are prevailing over consumer fear and indecision. While activity lags, prices and "days on the market" improves.

Christian and Holly Schlitzer, new Derry Township residents, bought and sold homes during the quarantine.

"We listed our home in Hampden Township (Cumberland County) and made an offer on a home in Derry Township prior to the COVID-19 issues," Holly Schlitzer said. "We were in the middle of those transactions when things started shutting down. We saw no reason to alter our plans and were grateful that title companies and other services were still up and running. Our closing took place in our cars outside the real estate office and in our garage with no person to-person contact.

"It was interesting, for sure, but everyone was flexible and it worked."

Even with real estate activities deemed "non-essential" since mid-March and real estate agents banned from showing homes, our local real estate market has not crumbled, as many predicted. Cracked, maybe. Comparing statistics from this year to last year shows surprising resilience. The market is tolerating — and in some ways excelling — during the shutdown.

For example, if you sold your home this April, statistically, you sold it for 20 percent more than you would have last April in 22 fewer days and for 10 percent over your asking price (see graphs).

What do these April 2020 numbers indicate?

First, buyers are still out there, corralled in a metaphoric stable, anxious to get out and shop for homes. More units were sold in April than were listed!

Second, notice the 10 percent increase from list price to sale price. Buyers are willing to enter bidding wars and write escalation clauses into their contracts and pay what's needed to secure a home. Rose Knepp, my colleague at Berkshire Hathaway Hershey, had five offers last weekend for one new listing.

And third, Sun Country prices are still increasing. Our median sales price is up approximately 20 percent from last April. During a pandemic. That stat shouts consumer confidence.

Listings are down by about 30 percent and pending deals (deals under contract) by about 75 percent, but those numbers could have been much worse. We still had activity and saw buyers and sellers willing to move forward.

Karen Olivas of Derry Township listed her home during the shutdown.

"I had to make the choice of listing my home during the shutdown or waiting until showings were permitted again," Olivas said. "Living in Hershey, I know the Med Center has new residents coming into town in the spring and summer and I wanted to make sure my property was available to them. We've had some great virtual tours and conversations and I'm confident this exposure will help me sell when the time is right and things open back up."

Real estate had a recession flung at it overnight and is living to tell its tale. Our market is flanked by state government work, the medical industry, and solid global, regional and local businesses. We are in a good place. And when this is over, our market will still be standing, despite wobbly knees.

Eileen S. Voyles is a REALTOR® with Berkshire Hathaway HomeServices Homesale Realty. She can be reached at 717-508-4610 or evoyles@homesale.com.

https://news.thesunontheweb.com/articles/the-real-scene-14/