Real Estate Market Blog: January 2017 — December 2017

 

Insights on the real estate market trends on the Mid-Peninsula: Portola Valley, Woodside, Atherton, Menlo Park, Palo Alto, Los Altos and Los Altos Hills.

May 2017 Real Estate Update

May 24, 2017
Ginny Kavanaugh
Northern California continues to experience a healthy sellers’ market with median and low priced properties and, in some areas, with reasonably priced luxury properties. Due to the limited inventory and high demand for median priced properties, most reasonably priced listings receive multiple offers above asking price. According to the National Association of Realtors® (NAR), in March there was a 0.8 percent decline in the Pending Home Sales Index based on contract signings from February to March, but there was a 0.8 increase in the Pending ...

April 2017 Real Estate Update

April 11, 2017
Ginny Kavanaugh
The first quarter results are in for the local real estate markets. While some cities and towns show a decrease in average sales price, it's too early in the year to be concerned about any downward trend in prices. I anticipate inventory to increase steadily as we move more into the spring selling months. Because buyers are always searching for new listings and inventory remains low, it’s a strong market for sellers. Now is the time to act and t would be my pleasure to represent you in buying or selling your Menlo Park home. If you would like ...

March 2017 Real Estate Update

March 08, 2017
Ginny Kavanaugh
As the housing market approaches the end of the first quarter, there have been some encouraging signs for homeowners who may be weighing whether to sell. The year kicked off on a fairly strong note for the housing market on a national, statewide and local level. The overall real estate theme in the region continues to be a shortage of supply met with strong buyer demand. Open houses are attracting large turnouts and we continue to see multiple offers for properties across most price ranges. However it’s the “lower-priced” homes driving the ...

Outlook for 2017: Will The Seller’s Housing Market Continue?

January 26, 2017
Ginny Kavanaugh
Over the past year, California has seen a strong seller’s market for housing – thanks in large part to a shortage of homes on the market, strong demand by buyers and mortgage interest rates that hovered near historic lows. But as 2017 gets underway, the question is whether that seller’s market will continue, especially given a recent uptick in interest rates. According to Freddie Mac, the average 30-year fixed-rate mortgage nationwide climbed to 4.16 percent in mid-December (the latest figures available), up more than a half a percentage ...