15Jul
Audio edition for clients; the full written letter follows.
Valley Market Letter: Autumn
Short answer
Inventory is up from last year in most price bands, homes are taking longer to sell, and price reductions are more common above one million dollars. Well-priced homes still sell quickly.
Our quarterly market letter is also recorded as a short audio summary for clients who prefer to listen on a drive. The written version follows, with the key figures in one place.
+12%
more active listings across the valley than this time last year, based on our review of public listing data (illustrative figure).
| Signal | Direction this quarter |
|---|---|
| Active inventory | Up in most price bands |
| Days on market | Longer, especially above $1M |
| Price reductions | More common at the top of the market |
| Well-priced homes | Still selling within weeks |
For sellers, preparation and pricing matter more than they did two years ago. For buyers, there is more choice and more room to negotiate on repairs and credits, but the best homes in each area still attract competition.
Questions readers ask
Where do these figures come from?
From our own review of public listing data across the valley. They are illustrative and rounded; ask us for a report on your specific area.
Discussion
Rosa M.
This was useful. We are looking at two homes next month and will take this list with us.
Owen Baptiste
Glad it helps, Rosa. Send us the addresses and we will add our notes on both.
