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That's really the question you should be asking yourself.
Our market is incredibly diverse, and rapidly changing. Values vary not just by neighborhood, but by street. Your home isn't necessarily worth what your neighbors’ home is. At the end of the day, it’s the current market that sets the value of your home.
So, do you know what your home is worth in today's market?
Contact me for a confidential, no obligation assessment of your home's value.
The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power.
The chart below helps show the general relationship between mortgage rates and a typical monthly mortgage payment:
Even a 0.5% change can have a big impact on your monthly payment. And since rates have been moving between 6% and 7% for a while now, you can see how it impacts your purchasing power as rates go down.
You may be tempted to put your homebuying plans on hold in hopes that rates will fall. But that can be risky. No one knows for sure where rates will go from here, and trying to time them for your benefit is tough Lisa Sturtevant, Housing Economist at Bright MLS, explains:
“It is typically a fool’s errand for a homebuyer to try to time rates in this market . . . But volatility in mortgage rates right now can have a real impact on buyers’ monthly payments.”
That’s why it’s critical to lean on your expert real estate advisors to explore your mortgage options, understand what impacts mortgage rates, and plan your homebuying budget around today’s volatility. They’ll also be able to offer advice tailored to your specific situation and goals, so you have what you need to make an informed decision.
Your ability to buy a home could be impacted by changing mortgage rates. If you’re thinking about making a move, partner with a trusted real estate agent and lender so you have a strong plan in place.
Source: Keeping Current Matters
Currently, there are 1,353 single-family homes for sale, providing 0.9 months of inventory. There were 734 new listings, and 577 homes sold at a median sale price of $1.2m. The median overbid percentage was 105%, with an average of 21 days on the market.
There are currently 578 condo and townhome units for sale, providing 1 1 months of inventory There were 298 new listings, and 215 units sold at a median sale price of $763k. The median overbid percentage was 101%, with an average of 27 days on the market.
734 New Listings
577 Sold Listings
0.9 Months of Inventory
$1.2M Median Sale Price
105% Median Sale vs List
21 Avg Days on Market
298 New Listings
215 Sold Listings
1.1 Months of Inventory
$763K Median Sale Price
101% Median Sale vs List
27 Avg Days on Market
Single-Family Homes
The median sales price has decreased from $1 4m last March 2022, to $1 2m as of March 2023
Condos
The median sales price has decreased from $775k last March 2022, to $763k as of March 2023.
Single-Family Homes
The overbid percentage has decreased from 120 8% last March 2022, to 105% a year later
Condos & Townhomes
The overbid percentage has decreased from 108.7% last March 2022, to 101% a year later.
The average time spent on market went up from 11 days last March 2022, to 21 days as of March 2023
The average time spent on market went up from 15 days in March 2022, to 27 days as of March 2023
Currently, there are 704 single-family home sale, providing 1 month of inventory. There 795 new listings, and 704 homes sold at a sale price of $825k. The median overbid percentage was 100%, with an average of 3 on the market.
There are currently 210 condo and townho units for sale, providing 1.1 months of inve There were 233 new listings, and 179 units a median sale price of $580k. The median percentage was 100%, with an average of 2 on the market
Single-Family Homes
The median sales price has decreased from $950k last March 2022, to $825k as of March 2023
Condos
The median sales price has decreased from $585k last March 2022, to $580k as of March 2023.
Single-Family Homes
The overbid percentage has decreased from 107 9% last March 2022, to 100% a year later
Condos & Townhomes
The overbid percentage has decreased from 105 7% last March 2022, to 100% a year later
Single-Family
The average time spent on market went up from 12 days last March 2022, to 32 days as of March 2023
The average time spent on market went up from 12 days in March 2022, to 27 days as of March 2023
Currently, there are 186 sin sale, providing 1 the marke inventory. There were 74 n homes sold at a median s median overbid percentag average of 56 days on the
There are currently 19 con for sale, providing the mar inventory. There were 10 n sold at a median sale price overbid percentage was 1 of 21 days on the market
on Market
includes all single-family Area above from March 2022 vary from the time the data guaranteed. Questions may be DRE# 01995149 | DRE# independently owned and
Single-Family Homes
The median sales price has decreased from $961k last March 2022, to $890k as of March 2023
Condos & Townhomes
The median sales price has increased from $710k last March 2022, to $789k as of March 2023.
Single-Family Homes
The overbid percentage has decreased from 101 2% last March 2022, to 100% a year later
Condos & Townhomes
The overbid percentage has decreased from 101.9% last March 2022, to 101.3% a year later.
The average time spent on market went up from 55 days last March 2022, to 56 days as of March 2023
Condos
The average time spent on market went down from 49 days in March 2022, to 21 days as of March 2023
Currently, there are 292 single-family homes for sale, providing the market with 2 months of inventory. There were 242 new listings, and 147 homes were sold at a median sale price of $1.7m The median overbid percentage was 105.7%, with an average of 31 days on the market.
There are currently 567 condo and townhome units for sale, providing the market with 3 months of inventory. There were 306 new listings, and 201 units sold at a median sale price of $1.1m. The median overbid percentage was 100%, with an average of 51 days on the market.
242 New Listings
147 Sold Listings
2 Months of Inventory
$1.7M Median Sale Price
105.7% Median Sale vs List
31 Avg Days on Market
This data was sourced from InfoSparks on April 3rd, 2023 and includes all single-family homes, condos and townhomes in the displayed California Area above from March 2022 to March 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 - 650 627.3700 DRE# 01995149 | DRE# 01906450 Copyright KW Advisors 2023. Each Office is independently owned and operated.
Condo & Townhomes
306 New Listings
201 Sold Listings
3 Months of Inventory
$1.1M Median Sale Price
100% Median Sale vs List
51 Avg Days on Market
Last
Single-Family Homes
The median sales price has decreased from $2m last March 2022, to $1 7m as of March 2023
Condos
The median sales price has decreased from $1.2m last March 2022, to $1.1m as of March 2023.
Single-Family Homes
The overbid percentage has decreased from 121 4% last March 2022, to 105 7% a year later
Condos & Townhomes
The overbid percentage has decreased from 101.4% last March 2022, to 100% a year later.
The average time spent on market went up from 16 days last March 2022, to 31 days as of March 2023
Condos
The average time spent on market went up from 74 days in March 2022, to 51 days as of March 2023
Currently, there are 33 sale, providing the ma inventory. There were homes were sold at a The median overbid p an average of 28 days
There are currently 13 units for sale, providin There were 87 new lis median sale price of $ percentage was 99.9% on the market
s
51 d Listings
1.7M an Sale Price
8 Days on Market
2023 and includes all single-family California Area above from March 2022 and may vary from the time the data guaranteed. Questions may be 627.3700 DRE# 01995149 | DRE# Office is independently owned and
87 New Listings
98 Sold Listings
1 Months of Inventory
$1M Median Sale Price
99.9% Median Sale vs List
36 Avg Days on Market
Last
Last
Single-Family Homes
The median sales price has decreased from $2m last March 2022, to $1 7m as of March 2023
Condos
The median sales price has increased from $938k last March 2022, to $1m as of March 2023.
Single-Family Homes
The overbid percentage has decreased from 114 4% last March 2022, to 100% a year later
Condos & Townhomes
The overbid percentage has decreased from 105.3% last March 2022, to 99.9% a year later.
The average time spent on market went up from 12 days last March 2022, to 28 days as of March 2023
The average time spent on market went up from 16 days in March 2022, to 36 days as of March 2023
Currently, there a sale, providing th inventory. There homes sold at a median overbid p average of 25 da
There are curren units for sale, pro months of inven and 267 units we $940k. The med with an average
Last
Single-Family Homes
The median sales price has decreased from $1 9m last March 2022, to $1 6m as of March 2023
Condos & Townhomes
The median sales price has decreased from $1m last March 2022, to $940k as of March 2023.
Single-Family Homes
The overbid percentage has decreased from 116% last March 2022, to 100 9% a year later
Condos & Townhomes
The overbid percentage has decreased from 110.5% last March 2022, to 100% a year later.
Single-Family Homes
The average time spent on market went up from 12 days last March 2022, to 25 days as of March 2023
Condos
The average time spent on market went up from 11 days in March 2022, to 27 days as of March 2023
Currently, there are 322 single-family homes for sale, providing 0.9 months of inventory. There were 328 new listings, and 312 homes sold at a median sale price of $579k. The median overbid percentage was 100%, with an average of 57 days on the market.
There are currently 20 condo and townhome units for sale, providing 0.7 months of inventory. There were 17 new listings, and 22 units were sold at a median sale price of $397k. The median overbid percentage was 100.5%, with an average of 54 days on the market
328 New Listings
312 Sold Listings
0.9 Months of Inventory
$579k Median Sale Price
100% Median Sale vs List
57 Avg Days on Market
This data was sourced from InfoSparks on April 3rd, 2023 and includes all single-family homes, condos and townhomes in the displayed California Area above from March 2022 to March 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 - 650 627.3700 DRE# 01995149 | DRE# 01906450 Copyright KW Advisors 2023. Each Office is independently owned and operated.
17 New Listings
22 Sold Listings
0.7 Months of Inventory
$397K Median Sale Price
100.5% Median Sale vs List
54 Avg Days on Market
Last 12 months, year-over-year
Single-Family Homes
The median sales price has decreased from $605k last March 2022, to $579k as of March 2023
Condos & Townhomes
The median sales price has increased from $360k last March 2022, to $397k as of March 2023.
Single-Family Homes
The overbid percentage has decreased from 102 1% last March 2022, to 100% a year later
Condos & Townhomes
The overbid percentage has decreased from 102% last March 2022, to 100.5% a year later.
Single-Family Homes
The average time spent on market went up from 24 days last March 2022, to 57 days as of March 2023
Condos & Townhomes
The average time spent on market went up from 26 days in March 2022, to 54 days as of March 2023
Currently, there are 374 single-family homes sale, providing the market with 1.2 months of inventory. There were 216 new listings, and 2 homes were sold at a median sale price of $8 The median overbid percentage was 100%, w an average of 54 days on the market.
There are currently 31 condo and townhome for sale, providing the market with 0.7 month inventory. There were 39 new listings, and 38 condos sold at a median sale price of $495k. median overbid percentage was 100%, with a average of 43 days on the market.
Last
Last 12 months, year-over-year
Single-Family Homes
The median sales price has decreased from $825k last March 2022, to $824k as of March 2023
Condos & Townhomes
The median sales price has decreased from $499k last March 2022, to $495k as of March 2023.
Single-Family Homes
The overbid percentage has decreased from 103 4% last March 2022, to 100% a year later
Condos & Townhomes
The overbid percentage has decreased from 103.8% last March 2022, to 100% a year later.
Single-Family Homes
The average time spent on market went up from 26 days last March 2022, to 54 days as of March 2023
Condos & Townhomes
The average time spent on market went up from 26 days in March 2022, to 43 days as of March 2023
Currently, there are 161 single-family homes for sale, providing the market with 1 month of inventory. There were 112 new listings, and 122 homes sold at a median sale price of $1.6m. The median overbid percentage was 101%, with an average of 39 days on the market.
There are currently 104 condo and townhome units for sale, providing the market with 2.2 months of inventory. There were 48 new listings, and 54 condos sold at a median sale price of $768k. The median overbid percentage was 100%, with an average of 56 days on the market.
122 New Listings
112 Sold Listings
1 Months of Inventory
$1.7M Median Sale Price
101% Median Sale vs List
39 Avg Days on Market
This data was sourced from InfoSparks on April 3rd, 2023 and includes all single-family homes, condos and townhomes in the displayed California Area above from March 2022 to March 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 - 650 627.3700 DRE# 01995149 | DRE# 01906450 Copyright KW Advisors 2023. Each Office is independently owned and operated.
48 New Listings
2.2 Months of Inventory
Last 12 months, year-over-year.
Condos
Last 12 months, year-over-year
Single-Family Homes
The median sales price has decreased from $1 8m last March 2022, to $1 7m as of March 2023
Condos
The median sales price has decreased from $798k last March 2022, to $769k as of March 2023.
Single-Family Homes
The overbid percentage has decreased from 111 8% last March 2022, to 101% a year later
Condos & Townhomes
The overbid percentage has decreased from 104.4% last March 2022, to 100% a year later.
The average time spent on market went up from 29 days last March 2022, to 39 days as of March 2023
The average time spent on market went up from 29 days in March 2022, to 56 days as of March 2023
