Increasing inflation and interest rates, stock market declines, and fears of recession are changing the Bay Area real estate market. The first effect was on buyer demand (fewer buyers and offers), leading to changes in supply (more homes for sale, more price reductions). After a long period of appreciation and overbidding, the plans of buyers and sellers shift unevenly as they try to make sense of the changing market. Eventually statistics on closed sales (prices, appreciation rates, days on market), start to adjust and give us an indicator of what occurred in the economy and market weeks and months earlier. What is happening in our market is more complex than we can communicate in the following charts. Reach out to us for more information. We love to discuss the nuances that make our market so unique.
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Through the end of June, median house sale prices continued to increase. As noted above, we expect to see sales prices begin to flatten in the coming months. |
Price reductions on active listings have dramatically increased in June 2022 vs. June 2021, likely due to the increase in active listings on the market.
Buyers were able to put in offers with less competition but, as noted in the chart above, not necessarily at lower prices. |
Featured Properties,
Recent Sales & Buyer Needs |
We have buyers looking in Atherton, Menlo Park, Palo Alto, Woodside, Portola Valley, and Los Altos Hills in prices ranging from $4M - 15M and are always looking for pre-market opportunities or properties coming soon. If you know of any properties that fit, we would love to hear about them! |
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Compass is a real estate broker licensed by the State of California operating under
multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075,
1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented
herein is intended for informational purposes only and is compiled from sources deemed reliable
but has not been verified. Changes in price, condition, sale or withdrawal may be made without
notice. No statement is made as to accuracy of any description. All measurements and square
footage are approximate. Equal Housing Opportunity.
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