An up arrow related to median price is usually a good sign, especially in this case. As you can see, there can often be a single month that statnds out as different. Looking at the entire year, allows us to see that overall that median price for Livermore attached homes is on an upward trend.
The down arrow here for days on market certainly is seen as a positive trend for sellers. Less thatn 30 days to sell a house. Folks in the mid-west part of the country would love to see a stat like this (well, some probably d0). But that is a condition of limited inventory. Those properties on the market typical get multiple offers very quickly, especially as the townhome and condo price points appeal to First Time Homebuyers and investors alike.
Supply is down a little, but demand has skyrocketed. It's trends like these that start to move pricing in an upward direction. But know that it usually happens at the lower end of the market first. We are not seeing such a trend on the mid to upper price points.
This downward arrow it's the best of news for buyers, with inventory down 71%. But it does help stabilize prices. Buyers would be well-advised to understand how important the pre-qualification process is, so that in competitive situations, their offer has a fighting chance.
Why do so many people ask Real Estate agents, “How’s the Market?” Because they know that information is local in nature - often hyper-local. What happens around the country may not be indicative of the state of California. Or my region – the Tri Valley. And within that region, we have different markets. My hometown of Livermore is different from neighboring Pleasanton and Dublin.
The Active Rain Corp., the largest social real estate network for industry professional recently conducted a survey – Real Estate Recover or Not, to take the pulse of agents in the field and get a sense of whether we deemed our local markets to be in a state of recovery (or not). 1835 agents participated in that survey, and the compilation results are interesting.
If you want an introspective read on your neighborhood, contact me direct for comparative market data.
Comments(0)