Is 2017 winter a Sellers Market in the Bay Area?
Going into 2017, there was trepidation on what the future holds for the Bay area market. Surprisingly, this winter is representing an incredible opportunity.
Home prices have hit record highs over the past few months. With super low inventory, homes are getting multiple offers. Many say its a bubble, but in fact its a more stabilizing market, with buyers feeling a sense of urgency because of increasing interest rates.
Today’s activity and prices are mostly driven by a lack of supply and the fact that new home sales are shattering very high prices that are increasingly unaffordable for buyers.
That’s why — if you are looking to sell your home — you are in such a good position right now.
We’ve also made it to the end of the election cycle. People who were sitting on the sidelines because of the uncertainty are now inching towards jumping off the fence.
Spring is usually the hottest season for the Bay area market but we are seeing an uptick on the heat index. The greatest advantage is that inventory is very low.