August 2020 Issue

DRAIN THE COMPS!

When the lockdown occurred due to the COVID-19 in March, we as local real estate brokers thought that we would have to write off sales for the remainder of the year. However, we could not have been more wrong. As soon as the lockdown was lifted, a floodgate of buyers swarmed the Highlands/Cashiers Plateau looking for a sanctuary from  cities with higher rates of the virus and the looting and riots. This surge in demand has created a seismic shift in both inventory and pricing on the Plateau.

Year to date, sales volume is up 47% and unit sales are up 34%. But most astonishing is that since June first to date over the same time last year, sales volume is up 70% and unit sales are up 63%. Inventory is shrinking quickly with multiple offer situations the norm rather than the anomaly.

This increase in demand for property in this area has staying power for many reasons. Our hidden gem has been discovered, and having a home has increased in not just dollar value but in peace of mind and safety value.

Lifestyle, culture, safety and community… aspects in real estate so coveted by many.  When deciding where to put down roots, many factors are in the eye of the beholder – climate, adventure, or proximity to extended family – and for all of us, it’s about taking advantage of every moment – living somewhere that matters. 

The Highlands/Cashiers Plateau has been, and continues to be, highly sought-after and in great demand because it is rare – it is one of a kind. Nowhere else in the world can you have a town with a sparsely populated area, passing of four phenomenal seasons, breathtaking beauty and a full breadth of cultural activities. Maybe most importantly, there’s a true community, and a mind, body and spirit approach to life.

My advice to buyers is if you find a retreat close to your criteria, act on it immediately. Otherwise, this ascending market may price you out someday.

Thank you to our local brokerage community and to the buyers and sellers who are navigating the new COVID world while achieving our clients’ goals and making their dreams come true for their next chapter in life!

Jody and Wood Lovell own Highlands Sotheby’s International Realty celebrating twenty years as a leader in sales on the Highlands/Cashiers Plateau. With thirty brokers spanning the Plateau, they are ready to deliver on your real estate needs. 

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