The Robin Report
Bay Area Real Estate Market Update
Recent data shows that the market is changing. The number of listings has grown 24% since last year, but the number of listings accepting offers has declined to only 52%, its lowest level in 8 years. The 12-month forecast for the San Francisco area points to a decline of approximately 5.2% in home values, per Zillow. San Jose is expected to see a 3.8% drop.
The intense bidding wars we experienced here in recent years have calmed down. Buyers have more negotiating power, and sellers might need to be more realistic with their pricing. If you are a buyer, this could present some opportunities down the line. If you are a seller, it is crucial to understand the current market dynamics and price your property strategically.
While there are signs of a slowdown, it's important to remember that real estate is local. What's happening in San Francisco might be different from what's happening in your neighborhood. If you are thinking about moving, Robin and Les Wrigley would be glad to meet with you and discuss your options.
Robin & Les Wrigley
DRE# 00853245, 00853244
650.483.7661
