February Local Market Update
Want to know what’s happening here in our local East County Real Estate Market? I get asked this question often! Is now a good time to sell in Brentwood CA 94513. I also get asked if we are we going to see a crash, and what should people do with their home? It can be so confusing with the constant changes in the market to know what the best decision for your family will be.
I totally understand, I’m in the industry and have been for over 20 years and I am here to help you navigate this market. I’ve done over 2,300 real estate transactions and when answering these questions it’s always a good idea to look at the data and what’s happening in the market so that you can make an educated decision. First off, according to real estate experts, anytime you have inventory levels that are at 6 months of inventory or below, we are in a seller’s market. And anytime we have levels above six months, we are in a buyers market.
It’s sorta like the supply and demand theory, and when there is a limited supply like there is right now, then the prices go up. I’ll tell you this, we are in a seller’s market! We have inventory rates of under a few weeks. So let’s see what the market looks like here locally. Is it a good time to sell here in Brentwood California 94513 or Oakley California 94561?
Well, let’s look at what is happening in the month of January. In Brentwood we currently at the time of this video we have 38 homes that are active. The average time to sell is only 17 days, with only 46 homes selling thus far in January. Now you may be wondering if it’s a good time to sell in Oakley California 94561. In Oakley, we have 30 active homes on the market and thus far in January only 44 homes were sold. Again, a seller’s market because we have exactly 1 month’s worth of inventory, 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. I’m looking forward to hearing from you and as always.