Is The Market Cooling Down?
Updated: Apr 6, 2019
The Bay Area Market went into 2018 with record breaking home sale prices but it finished the year with slower and softer price tags. In the first half of the year, the median price rose almost 17 percent to an all-time high of $875,000 in June. In the second half, it fell 10.3 percent from that peak, ending at $785,000 in December for the Bay Area. During the last few months of 2018, many buyers were able to scoop up homes for under asking price and finally have the ability to negotiate better terms! Isn't this what we are all waiting for? What we experienced in the last couple of years was insane and the market is finally coming down to normalcy. The way I see it, the market is adjusting but by no means we will see home prices dropping like what we experienced back in 2008-2010. Coming into 2019, the interest rate has remained steady which allows another opportunity for those buyers currently on the sideline. Depending on where you are in the Bay Area, homes are still getting multiple offers when priced right and with proper preparation. For sellers, it will not be as easy as just putting out the 'for sale" sign. It is crucial to have a the right Realtor to educate and guide you through the selling process. For buyers, it is time to take advantage of the low interest rate and find a good agent that will be able to educate you and guide you through the buying process. It is more than just writing up the contract or putting out a "for sale" sign. If you are thinking about selling, buying or investing, please give me a call. My team and I would like be like to be part of your next move! Curious about your home worth? Contact me for a free home evaluation! Text or call: 510-363-7844 or email at firstname.lastname@example.org Follow me on: Facebook and Instagram website: www.stacypiecuch.com