What Buyers and Sellers Need to Know

Here is the latest and greatest data which may influence your buying or selling plans.

  • The 30 year fixed rate mortgage currently sits above 7.0% and will likely remain here for the short term (several months). In the last 24 months, when rates exceed 7.0%, it has typically slowed down demand for housing (less foot traffic, offers, etc):
  • The market is currently anticipating:
    • a rate pause March 20th
    • a rate pause May 1st
    • a 25 bps rate cut June 12th
  • List to sales price in San Francisco and San Mateo county have seen the largest single month increase from 102% to 106.5% month-to-date in Feb:
  • List to sales price in Alameda and Contra Costa county have seen similar from 102.5% to 106% month-to-date in Feb:
  • Inventory in the area has begun to pick up from the bottom in Dec 2023. This is following a mostly normal trend for the spring/summer market:
  • Median sales prices for SFR throughout the area have seen the largest one month gain from Jan to Feb month-to-date. We should expect prices to continue to rise over the next several months but at a slower pace.

What does this all mean for you? Give me call or shoot me an email and we can walk through it together: [email protected] / 650.280.8888

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