As far as home showings go, it appears that the worst is behind us. ShowingTime, which provides technology for more than 950,000 real estate professionals and 250 MLSs, continues to collect data on the number of private showings taking place. 

Not surprisingly, the number of showings dropped dramatically at the end of March. Let’s take a look at showing activity for the past six weeks. 

North America

Across North America, the low point in real estate showings occurred between April 5 -12th, with a decrease of showings by 48.9%, when compared to this first week of the year. Since April 13, the number of showings have continued to rise. On May 19th, the number of showings was down 8.9% since this the last year. 

New York State

The state of New York has seen a slower recovery in showings compared to North America as a whole. Keep in mind the New York City market is one of the most affected regions in the world, which impacts the data for the state. The low point for New York came on April 1, with a decrease in showings of 97.7% compared to January 1st. Since April 2, the number of real estate showings have slowly continued to rise. As we move into summer months, this trend will likely continue. 

Long Island: Nassau and Suffolk Counties

We can’t get the exact number of showings on just Long Island, but we can take a look at the number of properties pending to compare. 

As expected, the number of pendings dropped in April, to a low of 385 from April 8-21. In the past two weeks, the number of pendings increased, with 604 homes going under contract. So locally, we are seeing a rise in activity. 

Another thing to take into consideration is the amount of inventory. Currently, there are 9,918 active listings in Nassau and Suffolk County. Last year at this time, there were 17,483. That is a huge decrease in the number of homes for sale.

What does this mean?

This data shows that more buyers are coming out and actively looking at homes. We know that the buyers who are looking are serious, qualified buyers. In addition, low inventory across the nation means there are fewer properties to view.

For more information about buying or selling in today’s market, contact us.