How the Real Estate Market in the Bay Area is changing

Posted by Helen Luttemo on Monday, October 24th, 2016 at 9:42am.

Is The Bay Area Real Estate Market Starting To Change?

After years of record growth it looks like the Bay Area Real Estate market is finally starting to change, especially when it comes to homes priced at $2 million dollars or more. The days of bidding wars like those that were common during the last 4 years are slowly becoming a thing of the past, or at least decreasing. This is true for Marin County as well. Buyers are acting with less sense of urgency and are taking their time to find their dream homes. Sellers are reluctantly adjusting to this "new" trend. My advise to selling clients is to "under price" their homes to ensure a lot of buzz. This strategy often leads to more than one offer, which is all it takes to drive up the price. 

Time for Buyers to Get Off the Fence

With incomes rising across the Bay Area, falling home prices, and historically low mortgage interest rates now is the perfect time for any buyer to get off the fence and start seriously searching for a home in the Bay Area especially if they are tired of paying brutally high monthly rental fees. 

Although most experts won't officially say that the Bay Area Real Estate market is finally turning into a Buyers-Market, buyers do have some reasons to feel optimistic about the local Real Estate market especially if they've felt that buying a home here has not been within their reach in recent years.

More Sellers Are Negotiating

In recent years it wasn't uncommon for most sellers in the Bay Area Real Estate market to never dream of negotiating with buyers but with the market starting to change in some cities across the Bay Area it's possible to find homes with sellers who are willing to negotiate.

To learn more about homes for sale in the Bay Area, or to learn more about selling your home, contact me, Helen Luttemo, Realtor® with Marin Modern Real Estate by calling me at (415) 244-4414 or connect with me through my website.

 

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