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Labor Day Holiday Creates A Pause In Bay Area Inventory
Dated: August 27 2015
Labor Day is coming up soon and is quite possibly one of the most popular and relaxing family holidays of the year. Nearly everyone takes off for the weekend and in the bay area, most of them are heading up to Tahoe or out to the coast. The holiday starts early as you can start to see the traffic backing up on major freeways starting the Wednesday before as many folks start making their way out of town.
Real Estate inventory also takes a breather on the week leading up to Labor Day as well as a few days after. Subsequently you will see a spike in inventory starting on the 10th of September. Most sellers do not want to compete with the holiday especially since many buyers are out of town during this time frame and many Realtors also tend to take off during this time frame also.
So far rates remain at historic lows with the average 30 year fixed rate as low as 3.875% with many of the local direct lenders. There are also interest only programs and adjustable rate mortgages that are down near 2.75% which is ideal for home buyers with a 5-7 year time horizon on making a move up.
As of today, inventory across the East Bay market currently stands at 3,711 active properties and 3,863 pending properties. Those are strong numbers as there are slightly fewer active properties than pending. This is still a sign of a "seller's market". Since January 1 this year over 17,165 properties have sold and a bit of welcoming news for the deal seekers with 195 price changes in the past week.
If you are thinking about buying or selling, please give us a call. Year over year we have been ranked as one of the top teams for Keller Williams Realty throughout all of California and we would be happy to put our expertise and track record to work for you. On the links below you can see all active inventory for the following key bay area cities: Walnut Creek, Pleasant Hill, Martinez, Alamo, Lafayette, San Ramon, Danville, Orinda, Moraga, Concord, Brentwood, Oakland, Fremont, Pleasanton, Dublin, Livermore, Hayward & Castro Valley
The EastBayPro Team would like to wish you and your family an amazing Labor Day weekend!You can reach our team members at 925-304-6346 - Kevin R Kieffer, Broker Associate - Team Leader for Keller Williams Realty's EastBayPro Team - Our team members include Naomi T Kieffer, Matt Rubenstein, Dana Grant, David P Johnson, Heather Gowdy, Jamie Duvnjak, Scott Maher, Nina Kasper-White & Ken Wilson - Please call and "Let Us Exceed Your Expectations".