Blog - Ellen Vera

Market Update

Today’s Interest Rates Versus Years Past

What is driving the housing market today? The price of borrowing money. We are hearing so much about interest rates … because we haven’t seen rates like this before.
Market Update

Median Prices Up, Inventory Down

Buyers looking for a pandemic bargain might be disappointed as median prices rose in all five MLSListings counties compared to a year ago. Closed sales were up across the board when compared to May 2020, but still down compared to June 2019 in 4 out of 5 counties; only Santa Cruz rose (by 16%) versus […]
Sellers

When is the best time to sell?

In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are “seriously worried.” That concern seems reasonable considering the current condition of the economy. The data, however, is showing that home purchasers are […]
Uncategorized

what are experts saying about the future of housing prices?

A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that reason, forecasting home prices has become extremely difficult. Normally, there’s a simple formula to determine the future price of any item: calculate the supply of […]

Market Update Today’s Interest Rates Versus Years Past What is driving the housing market today? The price of borrowing money. We are hearing so much about interest rates … because we haven’t seen rates like this before.

Market Update Median Prices Up, Inventory Down Buyers looking for a pandemic bargain might be disappointed as median prices rose in all five MLSListings counties compared to a year ago. Closed sales were up across the board when compared to May 2020, but still down compared to June 2019 in 4 out of 5 counties; only Santa Cruz rose (by 16%) versus […]

Sellers When is the best time to sell? In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are “seriously worried.” That concern seems reasonable considering the current condition of the economy. The data, however, is showing that home purchasers are […]

Uncategorized what are experts saying about the future of housing prices? A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that reason, forecasting home prices has become extremely difficult. Normally, there’s a simple formula to determine the future price of any item: calculate the supply of […]

Uncategorized Glimmers of Hope as Real Estate Restrictions Relax The resumption of in-person showings of occupied residences (under strong guidelines) on May 4, 2020 likely alleviated some of the negative effects of the pandemic in May by keeping real estate transactions moving and encouraging new listings to enter the market. Pricing showed gains in three of the five MLSListings counties, with Monterey and Santa […]

Uncategorized May 2020 Sales Data – San Mateo and Santa Clara Counties May 2020 Data for MLSListings Counties (from North to South): In San Mateo County, the median Residential Common Interest home cost $890,000 and sold in 7 days for 100% of the list price based on 55 sales in May 2020. • Inventory rose 29% from April, but down -7% from May 2019 with 165 homes […]

Uncategorized May 2020 San Mateo County Market Data

Uncategorized April 2020 Data for San Mateo and Santa Clara Counties April 2020 Data for MLSListings Counties (from North to South): In San Mateo County, the median Residential Common Interest home cost $1,045,000 and sold in 10 days for 103% of the list price based on 76 sales in April 2020. • Inventory rose 19% from March, but down -15% from April 2019 with 126 homes […]

Uncategorized Median Prices Hold Steady, But SIP Showing Its Impact Despite the shelter-in-place (SIP) order in mid-March, median prices held up in April, even gaining compared to last April in 4 of the 5 MLSListings counties; Santa Cruz County showed a 4% decrease in median price. Premiums (i.e., the amount paid above/below the list price) also closely mirrored last year, with San Mateo at 104%, […]

Uncategorized Positive Momentum Curtailed by Shelter-in-Place Prior to the March 16 shelter-in-place (SIP) order, the first half of March was looking quite promising in terms of sales and prices. In fact, 3 counties (Monterey, San Mateo and Santa Clara) ended March with higher median prices than a year ago despite the SIP. Also telling was that Median Days on Market, a […]

Uncategorized Inventory and Median Days on Market Drop Again Inventory was again down year-over-year across all five MLSListings counties, maintaining a trend from the end of 2019. Inventory fell the least in Santa Cruz (12% less than last year) and decreased the most in Santa Clara (37% less than last February). The market continued to move quickly, as median Days on Market data showed […]

Uncategorized 2020 Begins with Inventory, New Listings Down Continuing a trend we saw at the end of 2019, the new year began with less inventory in every MLSListings county year-over-year. Compounding the low inventory was reduced new listings, which were also down across the board compared to 2019. The tight supply of houses led to an increase in the velocity of the market, […]

Uncategorized Year Ends with Inventory Down, Closed Sales Up The Silicon Valley real estate market ended 2019 with mixed results. For calendar year 2019, median sale prices for single-family homes compared to last year were down in San Mateo, and Santa Clara, level in Santa Cruz, and up in Monterrey and San Benito Counties. In the common interest market, median sales prices were down […]