Our newest video builds on themes from our most recent MB Market Update post, and adds some on-the-ground details from recent transactions. Enjoy!
We hope you'll watch, but here are a few quick takeaways:
- Homes definitely seem to be selling for less now than they would have early this year.
- All 5 of our most recent listings and offers for clients have involved multiple offers (2 or 3).
- Transactions are tense, and buyers are sometimes trying to exercise leverage midstream.
- The market is slower, but sales are happening.
The best advice we have today:
1) Sellers: Price carefully. There are buyers out there, but they're not going to be patient with a listing that seems too expensive for what it is.
2) Limited Inventory = Multiple Offers. Attractive listings are still drawing multiple offers, so don't be surprised as a seller or buyer to find yourself in that situation, whatever the chatter is about market conditions.
3) Buyers: Use leverage wisely. As a buyer, you have leverage in this market. But aiming too low on price, or trying for big concessions during the escrow process, may just mean you don't get the house. Sellers don't all need to capitulate big-time right now.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of December 6th, 2023 at 9:46am PST. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.