Castro Valley Real Estate Market Report February 2021
DEAR NEIGHBOR,
Our Castro Valley homes are becoming increasingly multifunctional, supporting us
as we work, relax, learn, and play. As our lives expand, though, we often need more space, nicer amenities, or a more convenient location.
While this is an exciting time, there’s a lot of money on the line. For most of us, our homes are the largest asset we’ll ever own—so you are right to want to understand this asset if you’re considering selling.
Here are the top things you need to know:
Inventory is down, and demand is up.
Despite the pandemic, homes couldn’t keep up with demand in 2020. Throughout the year, Castro Valley averaged just 0.76 months of available homes. This means that without new listings,
all available homes would sell in less than one month! This pushed sale prices even higher than before. The median sale price in 2020 climbed to $1,090,000 for the year, a record-breaking number. This is great news for homeowners who are ready to maximize their equity. However, even in a hot market like ours, it takes careful preparation and a proven strategy to capitalize on current trends.
We continue to see homes sell with multiple offers.
Correctly priced, well-marketed homes are selling at or above list price, in few days on market.
In fact, homes typically sold in just 16 days in 2020. That’s 16% faster than in 2019. The increase in speed is a result of consistently strong demand for homes in our area. Increased competition among buyers is also having positive effects on the sale-sale-to list price ratio, which reached a record high of 106.91% in 2020. These stats really add up when you are selling your largest financial asset. Based on these numbers, we can see that well-prepared homeowners are routinely getting tens of thousands over the asking price!
Buyers are searching now, and competition will only increase come spring.
I worked through the holidays with my buyers and sellers due to the extreme demand, and the market is not showing any signs of slowing. This is actually a great time to list your home. Low interest rates are still bringing buyers into the market, and current inventory is struggling to keep up.
But what does this all mean for you?
If you’re thinking about selling in the next 12 months, now is the time to start preparing for market.
There are many moving parts in any move, so it’s essential to have professional support that goes beyond sticking a sign in the yard.
Our cutting-edge tools and strategies are designed to make your home a showstopper both online and in person. In combination with
a multifaceted marketing package, we’ll connect you with the resources you need to get your home in market-ready condition.
With over 30 years of experience buying and selling real estate, I know what it takes to help you make a graceful transition to your dream home. You deserve the highest possible price in the fewest days on market–and our tried-and-true process is designed to do just that.
We’ve helped sell over 1000 homes sold in Castro Valley area real estate–and we can do the same for you.
If you’re wondering what it would take to maximize the equity in your home, call today for your Strategic Marketing Consultation
Call Tim today: 510-708-8700
Market Statistics
LOOKING AHEAD
HOME VALUES ARE ON THE RISE
Demand for Castro Valley homes remains strong. With our excellent school system, downtown improvements, parks, trails, the BART transit system, and our strong sense of community, buyers continue hunting for homes in our area. As a homeowner, strategic marketing and positioning are the best ways to maximize your equity when it’s time for a change.
INVENTORY REMAINS SCARCE
There are only so many properties available in Castro Valley in the first place and, while there are more homes listed than one year ago, inventory is still extremely limited. A low number of homes on the market combined with a strong pool of buyers means healthy competition. Homes that are priced correctly and marketed strategically often sell quickly, with multiple offers.
WHAT TO EXPECT WHEN SELLING YOUR HOME
With your hard-earned equity on the line, you deserve expert guidance and first-rate service from the very beginning. With the help of a professional with years of industry experience and a world-class marketing package, you can rest assured that you and your home are well-represented at every turn.
Let’s discuss your goals, your schedule, and your home. Together, we’ll create a stress-free plan for getting you the results you deserve.
Call Tim today: 510-708-8700
eXp Realty of California, Inc.
CalDRE #00657474
Based on information from the Bay East MLS as of 12/31/2020. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. If you home is currently listed for sale, please disregard our pro-active and aggressive marketing. It is not our intention to solicit the business of our colleagues.