How Is the Bay Area Market Today?

Here are three factors driving our current real estate market.

Today I’m sharing your September real estate market update. Here are the three things I want to cover in regard to today's market: 

1. Interest rates are down. When they peaked, they were around 6%. Interest rates for a 30-year fixed are hovering right around 4.75% to 5%, which is a lot different and much lower than you're hearing in the national media. 

2. Competition among buyers has decreased over the last six months as interest rates have increased. 

3. Homes that are updated and priced well are selling faster and for more money. That being said, that'll vary from home to home and neighborhood to neighborhood. 

This fall is projected to be an active market, with clients looking to sell and/or buy. If you have any questions or needs about real estate or you know somebody who does, please reach out and let us know how we can help.