Where is the market going from here? Flat to slightly up is my guess. There are definitely some signs of leveling off, however, much of that is due to sellers overshooting the price trajectory in the market. Overshooting the trajectory is also a primary reason for so many recent price reductions. We are also rolling into the holidays which distracts many buyers, resulting in properties sitting a bit longer than normal. New listings are still flowing to the market at a decent pace with 782 new listings since Nov 1st and 79 of those listings have gone pending or roughly 10% of those properties (Contra Costa & Alameda County).
There is a steady flow of follow through listings from the Spring and Summer months still coming to the market. As a result, inventory has crept up and buyers are now being a little bit more selective. The most anxious and motivated buyers purchased through this Spring and Summer months leaving the selective buyers in the Fall and Winter months to find a home at a not so frenzied pace. Buyers in the Fall & Winter months are generally opportunistic and looking for great buys. I know this first hand as many of my buyer clients indicated that this was their plan earlier this year and we are now out looking for homes meeting their needs.
The best news for both buyers and sellers is that interest rates remain at extraordinarily low levels which is fantastic for any buyer looking to purchase a home as well as sellers since the low interest rates enables more qualified candidates at every price point in the market.
About Compass Real Estate DRE 01527235 Kevin R Kieffer DRE: 01330888
Kevin R Kieffer's Team at Compass Real Estate consist of the following professionals: Kevin R. Kieffer, Broker Associate DRE 01330888, Naomi T. Kieffer, GRI, Realtor DRE 01263908, Matt Rubenstein, Realtor, Taylor Pollard, Realtor DRE 01996354, James Heaton 02095396 & Heather Gowdy, Realtor DRE 01933216. This team is ranked in the top 1% of Contra Costa County and are Five Star Agents as seen in Diablo Magazine - Offices in Walnut Creek & Danvi lle
Compass is the only real estate brokerage brand that speaks to the nex
"Charlotte was a pleasure to work with - she was very responsive to emails, phone calls, texts. She was very organized and stayed on top of our extra complex process, and we closed on time. She advocated and negotiated with our best interest in mind and made the process a lot smoother."