The Peninsula Real Estate Blog

Marshall Realty Market Update | September 2016

The US housing market continues to overpower seasonal trends. Despite normal declining trends typically seen throughout the winter months, the US real estate market has hit record highs. The increasing labor market is one of the top reasons behind these unusual trends. The low interest rates have also had a large impact on the current housing trends. These low interest rates have seen a lot of changes recently. Though still low, mortgage rates recently hit a two-year high. The average rate for a benchmark 30-year mortgage was last recorded at 4.13 percent, and continues to grow. Many predict more hikes as we head into the new calendar year. The effects of the winter months and the high prices have lead to a decline in Bay Area home sales. Home sales

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Marshall Realty Market Update | September 2016

Across the nation, the real estate market is pushing past seasonal declines and has been able to stay strong. The sales of existing homes rose 3.2% from August, putting the rates higher than they have been since June. This rebound of home sales may be due to the expected jump in mortgage rates. Currently, mortgage rates are still at record lows, though they have started to inch up. With the probability of seeing a hike in rates by the end of the year up to 74%, there may be no better time to buy than now. The Bay Area seems to be having varying trends, but all numbers seem to be above last year’s numbers. Rents are still up along with median sale price of homes. More specifically in the San Mateo County, the median sale price of homes has increased

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Marshall Realty Market Update | September 2016

Seasonal shifts are being seen in the Bay Area housing market. Bay Area home sales have seen declines of 11.6% in the last month. This drop in home sales has lead to a drop in median home prices. Bay Area home prices, though up almost 5% from last year, have dropped 3.7% on a month to month basis. This drop in home sales is due to both seasonal declines and high median home prices. As the summer comes to and end, it is common to see this shift in home sales. Bay Area home prices have been on the rise for years, but prices are so high that people are looking to move out of the Bay Area. Contrary to Bay Area trends, San Mateo home sales are up. The San Mateo County has been able to continue to grow against seasonal norms. Unlike most cities in the Bay

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Looking for guidance as you transition into the next phase of your life? Thinking about downsizing into a cozier, more affordable home? If so, join us on September 21st in the San Mateo Library (Laurel Room) from 5:00pm-6:30pm for a Transitions Forum, led by Angie DiSanto.

At the forum, Angie will discuss:

  • The common challenges of transitioning and how to overcome them.
  • Demonstrate the benefits and ease of downsizing into a smaller home.
  • Personal question and answer session for any questions you have regarding transitioning/downsizing.

    For any further questions, contact Angie directly by phone, 650-619-9676, or by email, angie@marshallrealty.com. We hope to see you there!

 

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August Market Update

The ever-changing housing market continues to keep us on our feet. The median house price of a Bay Area home is now up to $712,000. Though home prices around the Bay continue to rise, we are seeing a decline in year-over-year home sales. Inventory, rent prices and timing all affect home sales. Bay Area inventory is slightly up from last year, but even with new construction, low inventory is taking a major toll on the market. Looking specifically at San Mateo, new apartments are popping up around the county, but new housing is harder to find. Residence continue to rent because they can not find a house. With rising rent, those who are in an apartment don’t have the money to save up in order to make the transition into a house. Timing is also crucial

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Peninsula Real Estate Market Update

Across the country, the real estate market is heating up despite a sluggish stock market and slow wage growth—in fact, the median price of existing home sales is at its highest since 2008, and home improvement stores such as Lowes and Home Depot reigned supreme among large department stores as others reported lousy quarterly returns. But with a rollercoaster economy, the need to face reality is stronger than ever. With increased home prices and slow wage growth, a trend is forming for first-time home buyer, who are skipping the starter home. Instead, perspective home owners are either renting their dream home in hopes of eventually purchasing, or saving money for years until buying.  Millennials are also looking more and more to their parents to chip

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Peninsula Real Estate Market Update

Following in the footsteps of the Bay Area real estate market, the entire country witnessed a record-breaking first quarter as home sales reached an eight-year high, up nearly 17% over the last month. The Bay Area real estate market also continues to grow, but at a slower rate than this time last year.

Inventory throughout the Bay Area is sparse, down 3.6% from this time last year. With low inventory typically comes high competition, which in turn leads to higher home prices. More homes than ever in San Francisco and Silicon Valley reached the $1 million mark, from 17.4% of homes in 2012 to nearly half now listing at that price or higher. In April, San Mateo County home sales averaged at $1.859 million. However, while inventory is low, buyers are

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Peninsula Real Estate Update

Real Estate Market Update

The Bay Area housing market saw an interesting shift in the first quarter of the New Year. Typically high-performing markets such as San Francisco, Marin and the Peninsula had a decrease in sales volume throughout the quarter due to low inventory and being a quiet time of year in general. Other Bay Area counties saw an increase in sales volume of 7% year over year as buyers are searching elsewhere to avoid the high-priced markets. Prices continue to increase, but at a slower pace than patterns seen in the 2015 market. The rental market continues to grow as home ownership is at its lowest in history.

Due to seasonal factors, Q2 will likely see growth in both prices and sales volume. Already, inventory has increased

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Peninsula Real Estate Update

For the seventh time in eight months, the Bay Area reigned as the busiest housing market in the country. Famous for its predominately low inventory, nearly the entire Bay Area witnessed an increase to an average of 3.2 monthly supply of inventory, from the previous average of 2.4. The Peninsula saw a predictably thawed out housing market throughout the months of February and March as spring is a much more popular season for real estate; it observed an increased inventory and raised prices. From further market research, you will see the closer the market is to Silicon Valley, the higher the prices are and the quicker it is to be sold.

One example of this throughout the Peninsula is San Mateo. Through all of San Mateo

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