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Real Estate Market Blog: January 2018 — December 2018

 

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.

December 2018 Real Estate Update

December 11, 2018
Ginny Kavanaugh
As we approach the end of the year and look back on 2018, we see that it has been another record-breaking year for home prices in the area, however the typical end-of-year slowdown is definitely upon us. Although the holidays are on our minds, if you are thinking of selling, now is the time to be preparing your home for sale to get a jump on the competition next year. And, with interest rates on their way up, buying now could be very advantageous. We’ll be working this month and we're just a call, text, or email away so please contact us any ...

November 2018 Real Estate Update

November 26, 2018
Ginny Kavanaugh
The clocks have been turned back and the end of another year is almost here. At this time, our thoughts are with so many fire victims both north and south of us. A look at our skies reminds us every day of the effects of these devastating fires and we should all be certain that we have a plan in place should anything like this happen in our area. Shifting to the real estate market, this is the time of the year that the market often starts to slow down. But that's not the case for many of local cities and towns. Check out the details for the ...

October 2018 Real Estate Update

October 11, 2018
Ginny Kavanaugh
The end of the 3rd quarter is a good time to take a look at how the real estate market compares to previous quarters. In terms of gauging market performance, we like to look at the median sales price as it tends to be a more accurate price indicator than the average, which can be inflated or deflated based on the sale of just one or two very high or low-end properties. Whether you are buying or selling, please contact us any time for a personal consultation and to catch up on the market. In Portola Valley, the 3rd quarter median price ...

September 2018 Real Estate Update

September 12, 2018
Ginny Kavanaugh
It’s official – schools are back in session and the official start of Fall is right in front of us. Clearly there was a bit of a summer slowdown in local real estate market a bit of a slowdown. However, rather than seeing this as any kind of shift in the market, it could actually be due to the strength of the economy, which resulted in more vacations than ever due to good fortune. As a result, buying a home was not the priority. Now that school has started, we are seeing a push to get homes on the market so sellers can close before year ...

August 2018 Real Estate Update

August 14, 2018
Ginny Kavanaugh
Statistics in our area indicate a slight slowdown in home sales; fewer multiple offer situations; and even some price drops occurring. Of course, the data must be taken in context. Variables such as neighborhood and price point can dramatically shift these figures. It’s important to keep any eye on these numbers to determine if we are seeing a seasonal trend or a shift in the market. While it’s far too early to tell, you can be sure that I stay on top of the real estate market every day and would be happy to discuss it with you in detail ...

Meet Ginny: The Virtuoso

July 19, 2018
Coldwell Banker recently did a feature on me and I thought that I would share it with all of you! Music and real estate. On the surface, it may not seem that the two disciplines are related. However, for Ginny Kavanaugh — a sales associate affiliated with Coldwell Banker Residential Brokerage and a top-producing real estate agent in Portola Valley for more than two decades — the harmony she creates for clients today took root long ago. “I started taking piano lessons at the age of five and didn’t stop until I graduated college,” says ...

2018 First Half Real Estate Market Report

July 12, 2018
Ginny Kavanaugh
The numbers are in for the first half of 2018, and it was another record breaking performance for the real estate market as inventory flew off the shelf with homes selling quickly. Check out the specifics on each of the different cities and towns. I am honored to have just been ranked as the #100 agent in the United States, per The Wall Street Journal published June 29, 2018. Within Coldwell Banker, I was further honored as the #1 agent in the Woodside and Portola Valley offices, #3 agent in the San Francisco Peninsula Region and #5 in all ...

Portola Valley 2018 First-Half Report

July 11, 2018
Ginny Kavanaugh
  The Portola Valley real estate market reached a record high median price in the first half of 2018, increasing 10% to $3.3 million; and the average price was down less than 1%. Of the 31 sales, 19, or 61%, sold for more than list price. The vast majority of homes, 77%, sold in the first half were between $2 million and $4 million. The highest sale recorded in the Multiple Listing Service was $6.45 million. Homes also sold very quickly with half selling in 11 days or less. Currently 5 homes are pending sale and there are 23 homes for ...

June 2018 Real Estate Update

June 15, 2018
Ginny Kavanaugh
The local real estate market really picked up in May. Buyer demand remains strong, making it a seller’s market. But even with strong demand, whether you are buying or selling, it is critical that homes are inspected properly and negotiated aggressively to ensure the best results for price and terms of sale. Having been in the business since 1985, I know exactly what it takes to get these results for you. Please contact me any time for a personal consultation or just to catch up on the market. In the meantime, check out the specifics on the ...

Kavanaugh Group: Meet the Team

June 01, 2018
Ginny Kavanaugh
It occurred to me that many of you have likely not met my all-star cast of support. I couldn't do the all the things I do and be the agent that I am to my clients without their contributions. It's my pleasure to introduce them to you. Our newest addition to the team is my son John Kavanaugh. A Portola Valley native and longtime Menlo Park resident, John's proven track record of success in financial services over 20+ years adds a fresh and distinct perspective to our team. Learn more.   Also a Portola Valley native and Palo ...

May 2018 Real Estate Update

May 14, 2018
Ginny Kavanaugh
The spring market has a arrived, and the April numbers show continued strong buyer demand. Even with strong demand, whether you are buying or selling, it is still critical to have a well-informed and well-connected agent. I know exactly what it takes to get you the best results. Please contact me any time for a personal consultation or just to catch up on the market. Portola Valley real estate heated up in April with 4 homes closing escrow, an additional 2 homes going into contract, and 17 new listings. Prior to April there were only 3 to ...

April 2018 Real Estate Update

April 10, 2018
Ginny Kavanaugh
The real estate market is experiencing historic low interest rates and rising rents, driving buyers who want to realize the dream of homeownership. With limited housing inventory, buyers are competing against one another for those properties that are priced well and in good condition. The competition is resulting in fierce bidding wars, which candrive-up housing prices. With short supply and high demand, it remains a seller’s market in the Silicon Valley. However, I anticipate inventory to increase steadily as we move further into the spring ...

March 2018 Real Estate Update

March 16, 2018
Ginny Kavanaugh
As we approach the end of the first quarter (where has the time gone!), the real estate market indicators remain constant throughout the cities on the Peninsula: limited supply and high demand. The inventory shortage is fueling increased prices, and more specifically the median price, as we continue to see a strong seller’s market across the board. It may be a seller’s market, but Silicon Valley buyers are business savvy, and while some cities continue to experience the multiple offer frenzy we have witnessed over the last couple of years, ...

February 2018 Real Estate Update

February 15, 2018
Ginny Kavanaugh
If you are considering buying or selling, let’s talk about next steps now. Whether you are preparing to come on the market or searching for the perfect place to call home, the earlier you start the better in order to get a jump on the spring competition. Eight weeks into the New Year, and here is what's happening in real estate in our cities and towns.   A home that I had listed for sale went into contract at the end of January and closed escrow 7 days later for $4,461,000. A home sold off market at the end of January for ...

Portola Valley 2017 Annual Report

February 02, 2018
Ginny Kavanaugh
In Portola Valley, the 2017 real estate market was particularly strong. Record-high prices were set, inventory of homes for sale increased (unlike neighboring cities), and the number of homes sold escalated sharply compared to the past two years. The Multiple Listing Service reported 76 sales, a 19% gain from 2016. Additionally, several homes sold off market. The graphs in this report do not include off-market sales; if you would like information on these, just contact me. The average price in Portola Valley increased 14% to a ...

2018 Winter Games Schedule

January 24, 2018
Ginny Kavanaugh
The 2018 Winter Olympics will take place in PyeongChang, South Korea, kicking off with the opening ceremony on February 9th and running through February 25th. More than 2,800 athletes from more than 85nations are expected to participate in 102 events across 15 sport disciplines. The Games will be the first ever Olympic Winter Games with over 100gold medals. The 2018 U.S. Olympic Team is expected to reach approximately 240athletes. Stars to watch include veteran skier and medal winner Lindsey Vonn along with 18-year-old figure skater Nathan ...