Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make! They are there for you to help with paperwork, explaining the process, negotiations, and helping you with pricing (both when making an offer or setting the right price for your home).
One of the top reasons to hire a real estate professional is their understanding of your local market and how the conditions in your neighborhood will impact your experience. Team Patereau is your local resource and we welcome your business.
It is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year.
The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed the months in which most people listed their homes for sale in 2016. Here is a graphic showing the results: Continue reading →
Here’s a report published by Intero Real Estate Services, Inc., about the Real Estate Market in Santa Clara County for the month of May, 2016.
May 2016 is a Seller’s market! The number of for sale listings was up 8.7% from one year earlier and up 6.2% from the previous month. The number of sold listings decreased 3.6% year over year and increased 5.8% month over month. The number of under contract listings was down 1.2% compared to the previous month and down 3.1% compared to the previous year. The Months of Inventory based on Closed Sales is 1.2, up 9.5% from the previous year. The Average Sold Price per Square Footage was up 4.7% compared to the previous month and up 7.4% compared to last year. The Median Sold Price increased by 1.4% from last month. The Average Sold Price also increased by 4.2% from last month. Based on the six month trend, the Average Sold Price trend is Appreciating and the Median Sold Price trend is Appreciating. The Average Days on Market showed a downward trend, an increase of 5.6% compared to the previous year. The ratio of Sold Price vs. Original List Price is 102%, a decrease of 4.7% compared to the previous year.
It is a Seller’s Market Property Sales (Sold) May property sales were 1039, down 3.6% from 1078 in May of 2015 and 5.8% higher than the 982 sales last month. Continue reading →