Here’s a question I’ve been asked recently ---
“Is May too late to put a house on the market here?”
My answer: "No, the right time to sell is when it is right for you."
Here's why there is no wrong time to list your Silicon Valley or San Francisco property for sale:
While it is true that many buyers are actively looking to purchase in our area between February and April, there’s no reason to believe that May, June and on wouldn’t bring equally good results. Numbers of offers could be less, days on market will likely increase somewhat (we’re still talking less than 21 days for most market segments) but I see no sign of a decrease in buyers. Things to keep in mind:
- Numerous companies like Uber, Lyft, Airbnb, Pinterest and more are planning IPOs in the next couple of months, resulting in newly minted millionaires, many of whom will want to buy places of their own. Some will likely choose San Francisco, but others will want space and decent commutes, making the Peninsula a likely choice.
- Interest rates have remained low. In fact, we've seen decreases in rates since last December.
- I presently have a buyer who will want to buy a downtown San Carlos condo or townhouse in June/July, not before.
- I'm working with another buyers ready to find a home in Belmont to purchase; they will be selling their larger home once they get settled into their new place.
The important take-away: real estate is local.
(Cover photo by Helloquence on Unsplash)
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