Tuesday, September 29, 2020
International

Hamilton (US) real estate market continues to be strong despite pandemic

Hamilton

Hamilton County Register of Deeds Marc Gravitt said, in April the county had 137.82 million pounds (174 million dollars) in sales transactions, with that number jumping to 209.90 million pounds (265 million dollars) in June

The real estate market in Hamilton County appears to be strong.

Any real estate transaction in Hamilton County goes through my office, Hamilton County Register of Deeds Marc Gravitt said.

Gravitt said that in April the county had 137.82 million pounds (174 million dollars) in sales transactions, with that number jumping to 209.90 million pounds (265 million dollars) in June.

Gravitt said he’s surprised to see an increase during a time of coronavirus-related shutdowns.

The title companies, they are just still covered up. Here we are in mid July and they’re still covered. Real estate brokers they can’t sale. I was a real estate broker for 27 years before getting into this position, but they cannot get enough inventory. The sales are continuing to boom, Gravitt said.

He said leading up to the pandemic, the real estate market in the county had already seen a significant climb.

From the year 2018 to the year 2019 we say 0.87 billion pounds (1.1 billion dollar) increase in real estate mortgages, Gravitt said.

He said he’s seeing growth all over the county and increased numbers have shown in both commercial and residential real estate.

Our largest transaction last year for the year 2019 was a 49.90 million pounds (63 million dollar) deal. That was for one transaction. That was in an apartment complex, Gravitt said. The high dollar figures are in apartments and nursing homes.

As for what recent sales could mean relative to how people feel about the pandemic, Gravitt said he believes people still feel like the economy is strong.

It goes hand-in-hand with the substantially reduced interest rates. That’s helping to drive the market. Especially in terms of refinancing, he said.

Important:
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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