CoreLogic recently rolled out a new weekly report titled ‘Early Market Indicators’ and it’s interesting to see how these indicators will play out during the Post-COVID19 period.

In the housing sector there’s been a shortage of listings over the past year with many people holding off from selling during last year’s elections and lots of people currently putting their plans on hold off the back of the Coronavirus pandemic due to the uncertainty in the market.

Interestingly, the acreage market hasn’t experienced the same shortage of listings during this same period, yet there are fewer acreage properties currently on the market than there were around the same time last year.

In fact, as reported in last year’s publication of The Acreage Report 2019 (Autumn edition) there were a total of 479 acreage properties For Sale and there were only 56 acreages sold during that Summer period, whereas, in this years copy of The Acreage Report 2020 (Autumn edition) there were 386 acreages For Sale and a total of 104 acreage properties Sold during this corresponding quarter.

These acreage sales results looked set to continue to increase dramatically throughout the Autumn months, however, they were dramatically impacted by the COVID-19 and so far, we’ve seen available listings increase back up to 444 acreages For Sale (as per this week’s Acreage Market Wrap), and there’s been a total of 36 acreage properties Sold during these first two months of Autumn 2020.

As we start to move into a period of reduction of the Coronavirus lock-down restrictions, it looks like we will see a steady flow of acreage buyer activity entering back into the market, especially from buyers craving more room after being stuck in lockdown and those seeking a quieter tree-change lifestyle.

It’s also very interesting to see that the CoreLogic data indicates a 23.94% increase in the number of market appraisal reports generated within their system in the past week (which is shown as Pre-Listing Activity in the Early Market Indicators Report below which means that there could be quite a few new listings coming onto the market in the coming weeks.

From my personal experience and the number of acreage owners that I’ve been speaking with recently who are thinking of selling Post-COVID 19, I anticipate that there could be an increase in acreage listings available, but, after having spoken with lots of acreage buyers throughout the Coronavirus pandemic, I believe that there could be a significant volume of new listings coming onto the market in the housing sector as people make their move to an acreage lifestyle or make a tree change or sea change.

So if you’re Thinking About Selling Your Acreage Property Post-COVID 19, you may find that making a few decisions slightly earlier than you may have been planning could give you the edge over the competition, especially if the market goes through a correction some property analysts are predicting.

To assist you, here’s an article that you may find helpful which outlines…

5 Ways To Jump Ahead Of The Pack During The Post-Covid-19 Recovery

As Eliza Owen from CoreLogic reported in her recent article about The Relative Resilience of Property Values, it was very interesting to see that…

“in the 28 days ending April 21st, the change in value was still positive at 0.4%. It is noteworthy however, that momentum in this positive growth rate has slowed from 1.1% halfway through March.”