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Early Outlook On The Spring Real Estate Market In The East Bay
Happy New Year! Interest rates remain low with average rates ranging from 3.93% APR - 4.18% APR. These rates are expected to remain relatively stable through spring, and at this time we are expecting some form of rate increase over summer. The economy seems to be on track and the housing recovery is strong enough to warrant an upward move in interest rates. The only issue for buyers right now which has been a common thread among many buyers over the past few years is the lack of inventory. If the first week of 2015 is any indication, we could continue to see low inventory compared to 2014. I understand that a week is a short time frame to gauge this data but last year we saw 458 new listings in the East Bay Area (Northern California) which includes the counties of Alameda and Contra Costa. However, since January 1st of this year there are just 213 new listings which is more than 50% lower. This could be partly due to the normalization of our market, meaning the stress sales are diminishing significantly and we will likely start seeing more calculated sales coming on in spring which is generally the optimal time for sellers to put their property on the market. My expectations is that we will have a great spring market and will mirror what we saw last year in terms of sales and activity.
Last year was an exciting year in Real Estate and I would like thank our extremely talented team of Realtors: Matt Rubenstein, Dana Grant, Dave Johnson, Heather Gowdy, Scott Maher & Jamie Duvnjak for their outstanding work last year, resulting in us being recognized as the #1 team for Keller Williams Realty in the East Bay with over 130 closed transactions and over $60M in closed transactions. Most importantly, The EastBayPro Team would like to thank all of our clients for trusting in us and helping us achieve this wonderful accomplishment.
All new listings can be seen on our site using your iPad, iPhone or any Android device as well. From any device, laptop or computer, just go to our site for new listings in San Ramon, Danville, Alamo, Pleasanton, Dublin, Livermore, Walnut Creek, Pleasant Hill & Martinez. Kevin R Kieffer, Broker Associate - Team Leader for Keller Williams Realty's EastBayPro Team - Our team members cover the following key cities: Walnut Creek, Pleasant Hill, Martinez, Alamo, Lafayette, San Ramon, Danville, Orinda, Moraga, Concord, Brentwood, Oakland, Fremont, Pleasanton, Dublin - The EastBayPro Team ranks in the top 1% and was recognized as Five Star Agents in 2014 - Direct: 925-300-8000