It’s been a propitious Q1!
It is incredible to see the growth we have experienced just five months into 2018. We call this incredible because it is both amazing in terms of transactions and crazy in the range of prices and variety of home styles we have worked with.
We have had the pleasure of representing more than 20 clients in the first quarter and we are so grateful. Each transaction has offered us a new and positive challenge, whether it be for the townhouse purchase at $1.25 million or the purchase of a new construction home in beautiful Mount Carmel at well above $3 million. We have serviced a host of different types of clients too – we have had trust sales, first-time buyers, move-up buyers and downsizers. We have also represented children of homeowners who had to sell the family home and move their folks into assisted living.
The Silicon Valley and Mid-Peninsula regions continue to be the most competitive markets in the region, largely driven by a lack of inventory. The scarcity of homes on the market has created a larger buzz with more buyers bidding on fewer properties, creating red-hot market conditions. We saw an incredible spike in price this spring, with more homes priced above the $2 million mark, while homes in more affordable ranges nearly disappeared.
While we have had a majority of transactions in San Carlos and Redwood City, we continue to serve other Bay Area cities. We recently held an open house at 984 Corbett Avenue in San Francisco’s Twin Peaks neighborhood and currently have a listing in San Jose. We maintain our reach in all markets in our Bay Area region and look forward to serving many, many more clients in their pursuit for the perfect home.
Things are moving fast, too. In San Mateo County, we have seen an average of 11 DOM, or days on the market. This means that in order to be competitive, we have to have our buyers in the best possible position. We have to be armed with all our tools, from our pre-approval status, to cash on hand; it is the most prepared buyers that are coming away with the win in competitive situations.
So, if you are thinking of buying or selling your home, don’t let the market scare you. The market holds a considerable amount of promise in all price ranges and we are here to make things happen. With our expertise, we will handle all the incidentals so that you can focus on the part of the process that interests you most.