The market? Still hot, but not as overheated. The buyers? Strolling, not sprinting, back to the market. Sellers? Almost as likely to raise their list price (“this is what I really want”) as to lower it. Prices? Mostly down, but sometimes up or sideways, but in all cases higher than they were at this time last year.
“Silicon Valley is a very special market. There are no metrics to compare. It has so much potential”, says Dr. Lawrence Yun, chief economist of the National Association of REALTORS.
First-time buyers, ever wondered what happened to all the inventory? Maybe you should be wondering what happened to all the move-up buyers.
Renters, feel like you’re paying too much rent? Sure you do! And you probably are!
Someone should do something about it!
“Home sales in the nine-county Bay Area turned in their best September last month since 2009, with suburban counties enjoying the strongest gains, according to a recent report by CoreLogic, the real estate information services company.”
Wouldn’t it be great to know which Silicon Valley cities and neighborhoods have appreciated the most in the last twenty-plus years? Better yet, wouldn’t it be great to know which types of Valley cities and neighborhoods have appreciated the most over that period?
Buyers, have you left the market because you can’t wrap your mind around today’s prices? Are you still circling the market, still looking at new listings on Redfin, still going to open houses every week-end, just not willing to pull the trigger?