Copy of Copy of Melissa's Market Minute December 2024

Melissa's Market Minute

January 2025

Happy New Year! I trust that all of you had a delightful holiday season and a fantastic start to the new year. Over the past few weeks, I have been focusing on setting and pursuing both my personal and professional goals. My foremost commitment is to remain well-informed about the constantly evolving housing market, ensuring that I can provide my clients with the most exceptional advice and guidance in buying and selling their homes.

What I'm Seeing In the Market

I listed two properties this month, so I've spent my weekends attending open houses to assess the traffic and understand the current buyer trends. Open houses are attracting significant attention, with some drawing 20-25 groups daily. However, conversations with agents after the offer deadlines reveal that they are receiving only one or two offers. This suggests that buyers are still waiting for the "perfect" home. Properties that are updated, move-in ready, and/or situated in highly sought-after neighborhoods generally remain on the market for less than 10 days. I've been hearing from many agents that they have upcoming listings in the next couple of months, and it seems like buyers are anticipating an increase in inventory. Since interest rates haven't dropped significantly, many buyers are choosing to wait things out. My advice, if you are looking to buy or sell let's start talking today to get ready for the spring rush.

Market Highlights

Melissa Wen

DRE# 01954977

REALTOR®

M: 925.785.6497

melissa.wen@compass.com

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 is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.