DEAR NEIGHBOR,
Our Castro Valley homes are becoming increasingly multifunctional, supporting us as we work, relax, learn, and play. As our lives expand, 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:
Demand has pulled back some, however the market remains strong.
Last month we saw the typical September numbers go up and down in critical areas showing us the market is pulling back some. Maybe seasonal as this time of year we see a pullback usually. Last month, Castro Valley averaged just 0.7 months of available homes. This means that without new listings, all available homes would sell in less than one month! This has caused homes to sell fast and still with multiple offers, however we have seen a decrease in the number of offers being received. The median sale price has dropped two months in a row to $1,220,000 in September down from $1,304,444 in July. Homeowners may be ready to maximize their equity. However, even in a 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 18 days in August. That’s up 3 days from August and 6 days up from July showing us that in the market homes are still selling relatively fast. The speed is a result of a consistently strong demand for homes in our area. Competition among buyers is also having positive effects on the sale-to-list price ratio, which continues to be strong at 106.88% in August. This number has dropped and I will keep an eye on this. These stats really add up when you are selling your largest financial asset, two months dropping is a little concerning but again may be seasonal. Based on these numbers, we can see that well-prepared homeowners are routinely still getting tens of thousands over the asking price!
Buyers are searching now; competition has eased some however still remains strong.
In working with buyers in the market place many are disappointed as when you have 3-5 other buyers wanting one property there are a lot of disappointed buyers as you would imagine. With the demand the market has eased a little maybe seasonal and it continues to be strong. This is actually a great time to list your home. Currently low interest rates are still bringing buyers into the market, and current inventory is still low.
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.
Moving can be a complex process, 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 the market–and our tried-and-true process is designed to do just that. We’ve helped sell over 1000 homes in the 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 LOW
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 10/5/2020. 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