April represents the first time we can look at the impact of COVID-19 on a full month of real estate activity.
To no one’s surprise, activity in April in terms of closings and new contracts did slow significantly.
Much of this slowing was caused by in person showings not being allowed for most of the month. (showings are now allowed again by following Safe Showings protocols)
Here’s what the numbers say…
Closed transactions were down compared to April 2019
• 26% in Northern Colorado (Larimer & Weld)
• 27% in Metro Denver
New written purchase agreements were down compared to April 2020
• 48% in Northern Colorado
• 44% in Metro Denver
So, while activity did slow, there was nothing resembling a “screeching halt” that took place.
While the way property is shown has certainly changed, the market is still very active and we expect activity to increase even more with showings now being allowed again.