Hosted by Dan Gilmartin & Timothy D. Gilmartin
The Bay Area real estate market update….with a total of 217 home on the market from South San Francisco to Redwood City this week buyers are driving the market. Buyers are not buying as quick as they did last year and they are asking “What do you think I can get it for?” instead of “How much more do I have to pay?” which was the question last year. Inventory on the market is at about 6.5 weeks indicating a change in the market if this trend continues. Pricing your home becomes much more important and there is a big opportunity for buyers with more inventory there will be fewer multiple offers and interest rates remain very low.
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Written on
Hi Dan,
If this trend continues for next four months, do you think the prices will come down if so how much.
Thanks
Roshan
Written on
If this trend continues I believe prices will be more stabilized, meaning I don’t see the prices going below 2017 peak. With interest rates pausing I think we should have a healthy sales year which could create a slight raise in values. If we see inventory raise to 450+ (in the market we track) then values will come down more. I will raise your question up in episode 7, thank you for your question.
Dan