When comparing April 2016 to calendar 2015, we’re seeing some signs of a slight market shift.
Days on Market, Median Sale Price, and Price per Square Foot were all higher in April 2016. Here’s the
shift… Percentage of List Price Received is slightly lower. Months of Inventory is creeping up at 2 months for
single-family homes. Condo inventory is also up considerably, but we are far from a buyers market.
Agents from all over the Peninsula and San Francisco are saying that the number of actual offers per transaction is way down from 2015. Generally speaking, properties that would have brought in 5 or more offers last year are
seeing as few as one offer. In many cases, offer dates are coming and going with not even one offer. Price
reductions are also on the rise. I believe that buyers and their agents have become so accustomed to a multiple bid
scenario, that they’re not even engaging sellers with an offer at list price for fear of continued rejection.
A new strategy is required, so call me and let’s discuss how my methodology is different, and how
I can make you successful whether a seller or a buyer.