The median price rose 29.8% to $428,620 from $334,220 a year ago.
That's all good info for home owners. Well, most of it is good info. The downside to these numbers and increases is that they will adjust the market by pushing home buyers into lower priced homes. Not something homebuyers take to lightly! This will, and has, had a slowing effect on the market. This, combined with the fact that school is starting and parents tend to get pre-occupied with that, will also slow the market, typical for this time of year.
I expect the market to heat up again about late September and be hot through about mid December, again typical for the time of year. Don't mistake this info to mean that the market is dead. It is not! There are still multiple offers on many homes so there is still lots of competition for buyers. The key is to stay focused and stay in the real estate market. You will find just the right home for you if you do.
And for sellers, just like any other type of real estate market, the key is in pricing. So if your home isn't selling, it's just the price.
For more information and assistance with buying or selling a home, please contact us at 310-928-9035. My team and I are here to help you with your real estate plans. We are a top real estate team in the South Bay and have been helping clients buy and sell property since 1999. Call us today. We're here to help!
Frank Kenny Real Estate Team 310-928-9035