Welcome back to another newsletter! Things are looking better as we head into 2022 as COVID infections fall and things start to get back to "normal." However, among other things, mortgage interest rates have risen 14% in 2022 and inflation is at a 40-year high, making the economy and financial markets a bit turbulent. On the other hand, employment, GDP, and household-wealth indicators are pretty positive correlating to the strong real estate market indicators around the Bay Area. But only time will tell as we head into the spring selling season. |
As of February 1st, San Mateo County had 353 Active Listings, the most in Redwood City with 28 listings at a median price of around $2.5 million. The Unsold Inventory Index, measuring how long it takes to sell the current inventory, is still very low, indicating that it is still a sellers' market as demand outpaces supply. |
In SF, the start of the pandemic has led to a huge divergence between the median price of 2-Bedroom condos compared to 3-Bedroom Houses. While houses have reached all time highs, condos went down 15% below and has only recently climbed back to near pre-pandemic levels. |
Home prices continue to increase with the start of the new year, reaching to around $1.75 million, a slight increase from December. Active listings are also very low, with only 145 as of February 1st. The total sales last year in 2021 was 5,146. |
Tri-Valley & South Alameda trends very similar to the broader bay area with high prices and low supply. Buyers continue to look for larger homes and on larger lots. Condo sales are also rebounding as first-time buyers (and possibly investors) look to jump into the market as the pandemic starts to lessen. |
|
|
Don't forget to breathe and do some self-care once in a while. Mediating, even if it is for a few minutes has been found to greatly reduce stress and anxiety, and possible even reduce risk of cardiovascular disease. All you need is a quiet place, close your eyes, and take some breaths. In and out. Check this guide out for more tips. Until next time, thanks for reading! |
|
© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a real estate broker licensed by the State of California operating under
multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075,
1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented
herein is intended for informational purposes only and is compiled from sources deemed reliable
but has not been verified. Changes in price, condition, sale or withdrawal may be made without
notice. No statement is made as to accuracy of any description. All measurements and square
footage are approximate. Equal Housing Opportunity.
Photos may be virtually staged or digitally enhanced and may not reflect
actual property conditions.
marketingcenter-sfbayarea-sfcityproper
|
|
|
