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Market Updates

APR takes you behind the curtain of the MLS: What is an MLS?

November 21, 2018

When you need to find a recipe, you go to Google. When your agent needs to find your new home, they go to the MLS.

The MLS (Multiple Listing Service) is a database of all the homes for sale in a given area. Each MLS is specific to a region, and agents subscribe to each MLS to have access to its listing data. The more MLSs an agent subscribes to, the broader their geographic range when searching for a home.

What does that mean for you?

If you’re a buyer:

The MLS is the most reliable and complete source for current home listings. Working with an agent who is an MLS member means you have access to the most up-to-date list of homes on the market.

If you’re a seller:

When your home is listed in the MLS, every agent working with an active buyer in the area is notified of your listing. That’s more powerful than any marketing or advertising.

 

Alain Pinel agents are ready to help you navigate your next real estate moment.

 

Market Updates

Sonoma County Third Quarter Market Report

October 22, 2018

Sonoma Q3 - 2018

Comparing the third quarter of 2018 to the same period in 2017, new sales are down 2%, new listings are down 4.3%, and the average sales price is up 11%. So, with inventories dropping twice as fast as sales, prices have skyrocketed. The soaring prices in this deteriorating market are due to lack of inventory – when supply is low and demand high, prices increase.

Market Updates

Santa Cruz County Third Quarter Market Report

October 22, 2018

Santa Cruz Q3 - 2018

Prices in Santa Cruz County rose 12% from the same period in 2017, with Capitola having a particularly active period. Prices there increased by 39% compared to the third quarter of last year, while months of inventory rose by 83%. Overall, inventory in the county loosened significantly, up by 24% compared to 2017, but continued to sell quickly, with days on market decreasing by 8%.

Market Updates

Santa Clara County Third Quarter Market Report

October 22, 2018

Santa Clara Q3 - 2018

The Santa Clara County fall real estate market continues to adjust to the rising interest rates and slowing buyer demand. Multiple offers were far scarcer, although sellers were still receiving an average of 100% of their asking price throughout the third quarter of 2018. The median sales price has adjusted downward just slightly to $1,220,000 for single-family homes. The available-to-purchase inventory level is currently 154% above this same point last year, providing buyers an abundance of available properties that are in their price range. Total closed sales for the year are down 15% for the quarter and 8% year-over-year. The planned unit development segment of our inventory is also noticeably above last year’s available supply. This could be a result of a diminishing buyer demand in entry-level housing as rising interest rates impact their ability to qualify for financing. All of this translates into a cooling market that is providing excellent opportunities for home buyers in many areas of Santa Clara County.

Market Updates

San Mateo County Third Quarter Market Report

October 22, 2018

San Mateo Q3 - 2018

Prices in San Mateo County rose 14% from the same period in 2017. Inventory is up significantly by 45% compared to 2017, but continued to sell quickly, with days on market decreasing by 5%. Several areas saw loosening inventory, such as Burlingame, Hillsborough, Menlo Park, Millbrae, San Bruno, and San Mateo, which each increased by over 100% in the third quarter of 2018 compared to the same period last year.

Market Updates

San Francisco County Third Quarter Market Report

October 22, 2018

San Francisco Q3 - 2018

During this last quarter, San Francisco County saw an increase in inventory, rising by 25% overall with some communities, such as Glen Park, Bayview, North Beach, Sunset, Inner Mission, Lakeshore, and others, increasing by over 100% as compared to the third quarter of last year. Number of sales and days on market remained steady, down slightly from 2017. Prices remained on the rise, up 8%.

Market Updates

Monterey County Third Quarter Market Report

October 22, 2018

Monterey Q3 - 2018

The Monterey Peninsula has been very stable in sales over the last year when comparing year-to-date of 2017 to 2018. The number of sales has increased 5% over the previous year and the median sale price has increased 5% as well. With that being said, however, the average days on the market have decreased by 10%, and the months of inventory available to purchase currently is about 3% less than the previous year. All four points add up to a nicely increasing and stable market. Carmel, Carmel Highlands, Carmel Valley, Monterey, Pacific Grove, and Pebble Beach each have varying statistics with some performing better than others, but as a whole it is looking good on the Peninsula.

Market Updates

Marin County Third Quarter Market Report

October 22, 2018

Marin Q3 - 2018

Trends from the height of the real estate recovery in 2013 to now are dramatic: new sales are down 18%, new listings are down 32%, and the average sales price is up 32%. So, with the inventories dropping nearly twice as fast as sales, prices have continued to soar. The year-over-year trends seem to show the red-hot price increases cooling off: solds are down by 1.6%, new listings are down by 6.6%, and the average sales price is up slightly by 1.1%. So, with inventories dropping more than four times faster than sales, average sales prices just inched up slightly. This is a good indication that we are in for a soft landing rather than a bubble burst such as that of 2007.

Market Updates

Contra Costa County Third Quarter Market Report

October 22, 2018

Contra Costa Q3 - 2018

Contra Costa County saw a loosening of inventory in the third quarter of 2018 compared with the same period last year, rising by 45%. Days on market remained steady and prices were up 7% from 2017. Sales volume was down by 8%, with Blackhawk sales significantly slowing, down by 44% in volume. Blackhawk also saw an increase in inventory of 167% compared to the third quarter of 2017, with days on market increasing by 25%.