3^rd Q ended with average single family home prices reaching $1,371,375, an impressive 10% increase from 2013. Good news for Sellers; for Buyers too. Higher prices mean more Sellers are 
now willing to list/sell! The supply of homes available for sale is still below long term trends (2.3 months  of inventory versus something like our “normal” 4 – 4.5 months), yet is significantly higher than the 1.25 – 1.5 months of inventory which we were seeing at in the 1^st quarter of this year.  And mortgage rates are declining again, with some 30 year jumbo loans below 4.0%. With more selection and lower mortgage rates, motivated Buyers can still find their dream home before the end of the year!  Call me today to discuss your objectives for buying or selling as we move toward 2015! 

Questions in the Face of a Continuing Tight Supply

The trend of the last 18 months continues, with a lack of supply of homes for sale driving prices up substantially.  For Q1 2014 overall, prices were up almost 32% on average from Q1 2013.  Despite increasing prices, there are still not enough new homes available for sale to satisfy demand.  As of this writing (5/30/15), only 484 homes were for sale in the entire county.  The biggest consideration preventing more Sellers from listing their homes for sale?  “Where will we go”?    Competition amongst Buyers for homes remains fierce, with multiple offers and all cash offers becoming commonplace.   The top question on Buyers’ minds:  “How can I present a winning offer”?  Call me today for sound, sensible, answers to these questions;  let me help you make sense of this market with strategies that produce top dollar results for Sellers and the winning bid for Buyers! 

My promise to you remains unchanged:  candid, truthful and professional real estate advice and services.  Always!