Gotta be honest, I always watch the market in the neighborhood and the slowdown has been disappointing, as an owner. I had to beat an all cash offer when buying my home this year.
Past two months we're also seeing more price drops and homes being priced to sell.
This past 2 weeks seems more houses than usual were sold each day, e.g. 2 SFHs on my street went pending in 8 and 11 days respectively! One SFH was completely renovated and the other one was old but well maintained. Before it usually took 2 weeks+ to go pending. Found out my realtor helped make a 10% above list bid for one of his other clients and it failed (about 50% cash offer). Note that my market isn't as crazy as you South Bay/Palo Alto/Sunnyvale/San Mateo peeps, so I like these numbers. A few ppl might be biting the less competitive environment.
Don't know what the point of this post is except maybe providing a micro perspective in the East Bay.
*crosses fingers that my area remains stable through this slowdown*
For privacy reasons, I live in one of these cities in one of the "mid-tier" neighborhoods: [Hayward, San Leandro, San Lorenzo, Ashland, Oakland] Demographics in my neighborhood are like mostly asian and caucasian
- Adobe aplyrpbHousing market activity has started picking up again since last couple of weeks. It is hard to time the market right esp in bay area. Interest rates are still at historically low levels which is why it still makes sense to buy a house now.
- LinkedIn / MgmtRebardoIsn’t winter always slower for real estate? I think what you’re describing is just the usual annual seasonality.
- New Gen PattonFremont is the only decent city in East Bay worth living if you work in the valley or use BART.
Even in Fremont area code 94539 is the best neighborhood with great schools and mountains.