The following are just released sales data for Single Family Homes & Condos on the Peninsula.
Not much has changed except that prices keep escalating. It is not a time for the squeamish. Buyers need a strategy now, more than ever. Rates are starting to creep northward, so bouncing from open house to open house without a real plan of attack is ultimately a costly endeavor.
Sellers are definitely in the drivers seat, but I’ve also seen examples of ill-prepared properties and/or some (dare I say) greedy behavior when setting the list price. Just because the market is hot, does not mean an automatic sale. Preparation and reality are the words of the day.
Till next time…