The great unlocking of 2020

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The Great Unlocking Of 2020 Over the past several years, the desire for more efficiently scaled homes and urban living drove many empty nesters to the city - leading to a soft suburban real estate market. Similarly, back to back massive fire devastation resulted in a stagnant real estate market in Napa and Sonoma in 2019. Along came Covid-19 And all of a sudden a new buyer pool opened for larger homes in wine country and outer Bay Area counties. What until early 2020 seemed like a 'dying' market sector roared back to life. A Compass colleague in Napa is having a record year with sales up by a booming 23% compared to 2019.  In January 2018, horrific mudslides devastated parts of Montecito following devastating wildfires. Then Prince Harry and Meghan Markle bought a massive house in the area, leading to extremely robust buying activity in recent months that has consumed much of the inventory that had stagnated for many months. What to some seemed hopeless at one point, is now thriving again. What do these two things have in common? Time. It has the capacity to unlock that which may seem impossible or even hopeless. Time heals most things. Time allows us to forget. No real estate market is immune from some form of adversity. And it is usually time that restores things back to 'normal'. Maggie Visser Top 4% SF Realtor DRE #: 01925742 415.793.3470 maggie.visser@compass.com