The Bay Area real estate market update…total inventory from South San Francisco to Redwood City is down on a Holiday week to 259!! That is two weeks in a row with inventory going down. Dan and Tim analyze how real estate agents themselves out on tour have noted that this market seems “strange.” However from a numbers perspective this is still a tight inventory strong seller’s market. The perspective of “strange” must be coming from the fact that when looking at the overall year over year sales, the amount of units sold is down, however the median price is significantly up! It would make sense that agents are noticing things are different because their sales volume may be lower from 2018 to 2019 because LESS homes have sold. July is showing huge opportunities to buyers that are are still home and shopping and not out of town. Should a new seller wait till August after school starts? Not necessarily! The conversation between agents and buyers themselves is not congruent which seems to be one of the most interesting parts of what is driving the feeling of a strange market place.
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