Home prices in our area cities continue to rise, while days on market has maintained a one-two month average for quite some time.  Seller traffic is strong, while buyer demand is high.  In fact, those buyers who couldn’t find a home during the busy summer months are still looking, and are buying. Below are the November statistics, city-by-city, for our area. Don’t hesitate to contact me if you’d like any additional info.

If you want to sell for the most money quickly with a lot less hassle, now is the time. More and more houses typically come on the market in April, May, and June, meaning you’ll have more competition from your neighbors who are waiting until spring. And more inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect three things. Number one: a great price on their home as buyers outbid each other for it. Number two: a quick sale, as buyers have so little to choose from. And number three: fewer hassles, as buyers are more willing to negotiate on specifics of the transaction.

“Lower mortgage rates, combined with a modest month over month increase in wages, helped offset rising nominal house prices, producing a slight increase in affordability.” (National Association of Realtors). Buyers are in a good position now as interest rates remain relatively low, though there is expectation of increases in the new year. Buyers, now’s a good time to find your home!

Whatever is happening in the market, both buyers and sellers can be satisfied as long as an educated and qualified market expert is the agent you choose.  Contact me with any questions. I’m always happy to help!  626-290-1250