April Local Market Update
So what’s happening here in our East County Real Estate Market. Everyone wants to know. Are we seeing a housing bubble, and what should we do with my home? It can be so confusing with all the headlines, what the best choice to make is for your family. we totally understand, I’ve been an agent for over 20 years and we can help you navigate this market.
Let’s look at the data of what’s happening so that you can make an educated decision. First off, according to real estate experts and advisors anytime you have inventory levels that are at 6 months of inventory or below, that we are in a seller’s market. It’s all about supply and demand, and when there is a limited supply like there is right now, then the prices go up. So let’s see what inventory levels are doing here locally. Is it a good time to sell here in Brentwood California 94513? Well, let’s look at what happened In the month of March.
In Brentwood we currently at the time of this video we have 67 homes that are active. The average time to sell is only 12 days, and the average sale price is over fifty-thousand dollars over the average listing price, which shows us we are in a strong seller’s market. Now you may be wondering if it’s a good time to sell in Oakley California 94561. In Oakley, we have only 34 active homes on the market and in March homes sold after an average of 20 days. Another strong seller’s market. So here in East County we have very low inventory and strong buyer demand. It’s a great time to sell as we are consistently experiencing bidding wars and homes being sold above list price. Feel free to reach out to us at no cost or risk for a hassle-free strategy session.
According to data from FHFA, the national average over the last year was 17 and a half percent home appreciation, and the 5-year national average is 54 and a half percent.
We are going to show you what’s happening in our market that is making your home worth so much. So we see that home prices are definitely on the rise, but what does that mean for supply and demand? We have been in a steady seller’s market for a while now, and we don’t see that changing.
According to Realtor.com, 77% of people believe that we have a housing bubble where they live, even though the data does not support this belief. This is leading to a decrease in the percentage of homes going on the market. But buyers are not taking their foot off the gas, the long-term financial benefits of owning a home. You see the amazing equity you have built in your home recently, and buyers are after the same thing. With all the uncertainty in the market and in our world right now, it can be hard to see through the headlines and see the data. Reach out to my team and we can help walk you through what it would look like to sell your home.