Northern California Market Update Case Of The Missing Inventory

Northern California Market Update Case Of The Missing Inventory

Prices will continue stabilize throughout 2014 as there is not enough inventory coming to market to create the price escalations that we experienced in 2013. This morning I pulled all active listings for Pleasant Hill, Alamo, Walnut Creek, Lafayette, San Ramon, Danville and Dublin. These cities represent some of the most sought after cities in the East Bay. The total active inventory stands at 343 and the total pending status (in contract) figure is 429. This data tells us that we have less than a month of inventory remaining which is generally considered a seller's market. Many sellers are looking to do contingent to buy transactions which could help the inventory figures but we would need inventory to double from current levels to create a more balanced market. Some buyers sitting on the fence waiting for REOs (bank owned) and Short Sales may need to look to traditional sales as stress sales have diminished significantly with just 8 active short sales and only 11 REOs currently on the market in those same cities.

The key to this market for buyers is to have all your ducks in a row and be ready to offer quick and clean. We suggest having your DU approval in place with your lender, short physical contingencies or none if your comfort level is there with the property. That can be risky but can also be a big factor for the seller. A three (3) week close is highly desirable as well as offering rent back if seller desires. There are many other suggested buyer tactics but these are some of the most common suggestions.

To view all active homes in the East Bay, click the "search" button above.

Kevin R Kieffer, Broker / Team Leader for The EastBayPro Team with offices in Danville & Walnut Creek and has team members serving the entire East Bay market

Kevin Kieffer Headshot
Phone: 925-300-8000
Dated: February 18th 2014
Views: 1,215
About Kevin: Kevin R. Kieffer is a Broker Associate and Realtor with Compass. His primary focus is the East...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Compass Real Estate DRE 01527235 Kevin R Kieffer DRE: 01330888
1646 N California Blvd. Ste. 101
Walnut Creek, CA

Other Locations