Hello Friends!

Recently I have received many inquiries regarding the current real estate market and felt it was worthwhile to send an update. If you are following sales in your area, then you know the market is hot!

Now is a great time to sell! So far in 2022, Bay Area real estate markets appear largely unfazed by higher interest rates, volatility in financial markets, and troubling international events. The prevailing dynamic is the strong buyer demand competing for an inadequate inventory of listings for sale. 
 
Typical for this time of year, the number of new listings is increasing. Each week I see more listings popping up in my buyer searches and “open house” signs out on the weekend. Homes are still going into contract quickly, and the current supply is not meeting the demand. 

 
Buyers are offering 25% and upwards over list price. I am seeing an average of 10 offers on most listings (a Pleasant Hill home I viewed received 40 offers!). On top of rising sales prices, sometimes harder for buyers to compete with are the competitive offer terms. Most winning offers have several, if not all contingencies waived. Buyers are feeling forced to take on more risk to secure a home.
 
It’s hard for buyers to not get discouraged. I have helped several buyers win in this current climate- with patience, persistence and my relationships with local agents, we can make it happen. If selling before buying seems like a daunting task let me share with you the strategies clients and I have used to overcome this hurdle, including a negotiated rent-back of your current home or utilizing bridge and other short-term funds.
 

If you have been contemplating a sale and want to know the current value of your property, call or email me and I will prepare a market analysis for you.If we have talked in the last year, or even few months, you might be shocked at the increase in value in such a short time! 

Below are data slides reviewing several market indicators such as home values, interest rates, and supply changes. March and April data will soon provide further indications of the market’s direction in 2022. We have yet to see what affect today's announcement of a rate increase will have on buyers’ outlook.  

As always, if you or someone you know has any real estate questions or needs, please reach out to me.
 
Warm Spring Wishes,
Daniella