2 minute read
The Current State of the Market
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By Janice Jordan, Broker-Associate, Compass
As a Danville resident of almost 20 years and a Broker-Associate for the past 30 years, I am honored to bring current and relevant information to you. Whenever I am out and about, and people realize that I am a Realtor, the conversation usually turns to questions and comments about the market. We hear it everyday from all different sources, “Are we due for a recession?”, “Can the market sustain this growth?”
In the 30 years of selling homes, I have seen really great markets, and I have seen some really down markets. Because our homes are one of our largest assets, we are always curious as to how the market is performing.
After the heat of the spring market, activity typically slows down in July and August. In September, new listings start coming on the market again to fuel the relatively short autumn selling season. What occurs in the next 2+ months, before the mid-winter holiday doldrums begin, will be the next major indicator of market conditions and direction.
Listings and sales ebb and flow dramatically by season. In Diablo Valley and Lamorinda, the peak of activity - as measured by the number of listings going into contract - typically occurs in late spring. The relatively short autumn market - Labor Day to early November - is the last major selling season of the year before activity plunges in mid-November for the winter holiday period.
Luxury Homes Sales by City
There’s a saying, “timing is everything.” When to sell your home is not always the same answer for everyone. We do have peak selling periods throughout the year and if all other factors in your own personal situation can align with these peak times, then you will have the best chance at obtaining the highest dollar for your home. Other important considerations are, “Do I sell before I buy my next home or purchase my next home with a contingency?”, “Should I sell my home As-Is or get it market ready?” Doing your research in conjunction with an experienced agent will help you navigate these considerations. It is best to start planning early; at least 3-6 months prior to buying or selling to be best prepared to buy or sell one of your largest assets.
Until next time…. See you around town.
