Things are certainly picking up: Mortgage applications have increased dramatically. and inventory levels are on the rise. However, prices aren’t falling that trend in all cases. (Great for buyers!) We’re seeing an average of 1-4% over the asking price (vs 20-30% in many cases in the past)! This does vary property-to-property, and if you ever need help navigating pricing or the right offer strategy to win, you know who to ask! 🙂
Things have undoubtedly been crazy lately, and many of you have been asking about the impact to the housing market in the Bay Area.
Inventory is low, but on the rise. Prices are down, and buyers have increased leverage. As we move towards reopening, I strongly believe that many of these trends will be temporary. The housing market here will stay resilient and, therefore, competition will heat up. If you’re realizing now that you don’t love your home, there is really no better time to buy.
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