Monday Market Update: Two Sunny Selling Seasons?
Two sales surges just might be upon us – see when in our new blog!
The sun is out and the housing market is hot! If you are thinking of selling, this week’s Monday Market Update shares some data and analysis from CNBC on when a ‘good’ time to sell may be. We typically warn those who try to time the market that anything could happen at any time. As always, we encourage you to collect data in your market, consider all the needs and facets of your individual situation and then make the decision that is best for you. The right time is a very personal decision and the data below represents just a few pieces of that complex puzzle.
Did you know that new listings are up 14.8% right now compared to this time last year? Redfin reports that this is the biggest annual gain in new listings since May 2021. On a more local level, San Jose and San Francisco have seen the largest rise in home sales; San Jose and Oakland have the highest share of homes in CA selling above list price and San Jose has one of the highest rates of homes off the market in less than two weeks!
Does that mean that now is the time to sell? Traditionally, spring is the season when many homes hit the market. Many sellers want to list and close before vacations, end of school events and graduation season. And the data above supports that the buyer demand is present and sellers are reaping the rewards. But does that mean that this just-about spring season is the only time to sell?
Industry analysts project that the beginning of June will be the second surge and the cusp of summer is going to be the sequel to the selling season we are in now. Two reasons for this are 1) A report from Zillow that shows homes that sold in the first two weeks of June last year received a 2.3% higher list price and 2) The first Federal Reserve rate cut is expected in the beginning of June, possibly signaling the general downward trend of rates to follow over the next two years.
Sell now? Sell in early June? Sell… in fall? The answer of course is up to you! We encourage you to chat with a trusted, local and actively engaged agent who knows your micro-market inside and out. As your biggest advocates for making informed and educated decisions, we encourage you to ask lots of questions, read many reputable sources and don’t let fear or desperation drive your next steps. Do what is best for you, when the time is right for you and with the right people by your side.
You’ve got this!
Bobbi
Bobbi Decker
DRE#00607999
Broker Associate, Bobbi Decker & Associates
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
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