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Listing Inventory Expecting To Surge After Super Bowl Sunday
The Super Bowl not only represents the largest global sports event of the year, it also marks the beginning of a new listing inventory surge that happens across the nation following the game. No one wants to compete with the Super Bowl on TV, and that same theory goes for Real Estate with relatively low inventory coming on the market leading up to the game.
So far the Bay Area is tracking nearly the same inventory volume as last year. In 2015 the total number of sold properties during the first five week span starting Jan 1st was 2,412 throughout Alameda and Contra Costa County. This year during the same time frame, there were 2,396. That figure is slightly lower but not substantial (difference of 16). I like to advise both buyers and seller clients that the Super Bowl is the kick off of the Spring selling season in the Bay Area. We expect to see a large push of inventory following the game and that activity will continue through Spring, right up until the June / July time frame when inventory starts to drop off slightly. I am expecting a strong Spring market and expect a bit more year over year inventory.
If you are considering selling, this year will bring ample buyers to the market and buyers should have a slight improvement in inventory selection. Rates should remain relatively low through the remainder of the year which will benefit buyers looking to lock in near historic lows in mortgage market. Today Bank Rate is quoting 30 year mortgage rates at 3.69% and 5/1 arm rates at 3.08%.
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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