Recent Home Trends in Redwood City

Recent SF Bay Homes Market Trends

The real estate market in the SF Bay Homes market has taken a turn in favor of home buyers.

1. We have seen an increase in inventories by 23%.
2. The selling price - list price ratio has trended downwards since its peak in the beginning of April 2014.
3. The average number of days for a home to sell has increased since its bottom in Mid-March 2014.
4. Home buyers are paying more per square footage for the homes they are buying.
5. The average sale price has been mainly flat all year and it is the same today as when 2014 started.
6. The greater percentage (30-40%) of homes are listed for sale over $1M in most markets. And, we are not seeing REO’s or Short Sale in our current supply of home for sale
7. The year over year price percentage of homes sold in April was up 12.8%

What this means is as a home buyer in today’s real estate market you are losing money because you have not purchased. Today is the time to buy a home or continue being a victim of the market trends.

Stop being a shopper and become a home buyer. You will be better for it in the long run both emotionally and financially.

As always, Cliff Keith and Team is here to help. Cliff@SFBayHomes

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