2020 Real Estate Trends
Moving to less densely populated areas
Many buyers are moving out of densely populated cities like San Francisco to areas like Marin County, Lake Tahoe, and Sonoma.
These buyers are looking for more space and privacy. Many have been told by their employers that they will not be going back into the office for the next year or two and that working remotely will be the new norm at least for now.
These regions have seen a large uptick in residential home purchases since the pandemic began.
Outdoor Luxury Enhancements
Homeowners are making their outdoor spaces more welcoming by integrating pools, cabanas, fire pits, and kitchens.
Speaking with local general contractors and architects, they have never been so busy as in the last four months.
The single-family home is becoming a multi-purpose haven
Due to the pandemic, homeowners are spending more time in their homes than ever before. Homes are becoming gyms, offices, movie theatres, classrooms, etc…
Alicia and I have a few residential development projects of our own in progress. We are integrating home offices, home gyms, and outdoor hang out spots. We have never placed such an emphasis on these custom features into our new build projects before. Knowing that many homebuyers will be hesitant to go work out at the gym, eat inside at a restaurant, or visit a movie theatre in the years to come, including these types of features into our homes, and our client’s listings are incredibly important. As realtors, we are personally seeing this reaffirmed interest in our listings and from home buyers we represent.
*These trends have been steady since late March 2020*
Torben Yjord-Jackson – Realtor
EXP Realty of CA, Inc.