The residential real estate market has screeched to a halt over the past week.  The buyers have hit pause and many sellers have withdrawn their listings from the MLS.   There’s been no new transactions except for a few exceptions. The closed sales over the past 30 days have been robust but that’s a trailing indicator.   Of the deals that have closed on average there’s been a 5-7 percent discount from previous comparable sales.   With the lack of transactions happening right now I’d imagine the price compression will get more intense as only sellers that have to sell will transact and with shelter in place orders we are not allowed to show properties in person.  This is all changing quickly and everyday is different.  Hopefully, we will all stay home and stay healthy and allow this horrendous virus to pass.   Thank you to everyone on the front lines risking their lives for us!   In the meantime, be with your families, take long walks, ride bikes, read, reflect and reset our priorities so we come out of this as a stronger more empathetic community.