The Market Continues On
Here’s our weekly snapshot of key market data to inform you on what’s happening in our market. The following are critical market indicators for the Week of Wednesday, April 1st to Tuesday, April 7th and a comparison with both the week before as well as the same time period last year.
Despite anxieties and concerns about a drop in the real estate market, it’s clear that people who were thinking to buy or sell before this all started are still out there and are choosing either to go ahead with their plans (albeit adjusted) or delay for the next month or so. The number of pending/contingent listings seems to be fairly consistent with the expected decrease in inventory, and San Mateo County even had MORE new listings come on the market last week than for the same time period in 2019. The median sale price for single family homes in both counties also experienced a 9-10% increase compared to last year as well, which is not so surprising since we entered this season in February with brisk activity, low inventory and high buyer demand.
There are a TON of articles out there, so it’s easy to get swept up with rumors and fears sometimes even perpetuated by real estate agents. If you are thinking to buy or sell a home in the near future, it’s important to be aware of what’s happening in your local market and to be strategic in terms of timing, pricing, terms and more.
We’ll continue to keep you posted. Stay healthy, and let me know if you need help with anything. Until next week, wishing you good health, joy, peace and friendship in abundance!
Despite anxieties and concerns about a drop in the real estate market, it’s clear that people who were thinking to buy or sell before this all started are still out there and are choosing either to go ahead with their plans (albeit adjusted) or delay for the next month or so. The number of pending/contingent listings seems to be fairly consistent with the expected decrease in inventory, and San Mateo County even had MORE new listings come on the market last week than for the same time period in 2019. The median sale price for single family homes in both counties also experienced a 9-10% increase compared to last year as well, which is not so surprising since we entered this season in February with brisk activity, low inventory and high buyer demand.
There are a TON of articles out there, so it’s easy to get swept up with rumors and fears sometimes even perpetuated by real estate agents. If you are thinking to buy or sell a home in the near future, it’s important to be aware of what’s happening in your local market and to be strategic in terms of timing, pricing, terms and more.
We’ll continue to keep you posted. Stay healthy, and let me know if you need help with anything. Until next week, wishing you good health, joy, peace and friendship in abundance!