Hi, I’m Warren Oberholser. I’m a realtor in the East Bay Tri-Valley area in Northern California. My goal is to help both buyers and sellers get maximum results for one of their biggest investments, their home.
So what’s going on with this crazy Tri-Valley real estate market?
Well, let’s first look at what has happened since the beginning of the year. Then we need to address the elephant in the room, which is interest rates.
Historically, home sales are usually down in January. It makes sense because we’re just coming off the holidays. Inventory was slightly higher, which allows buyers more properties to choose from. However, this didn’t affect January’s home sales prices. They were still up compared to last January.
What to take from this? We started off the year with more inventory than the last couple of months. However, the properties went pending twice as fast compared to last January. So both buyers and sellers were ready to do business.
Home prices reflect strong appreciation, especially in Alamo.
February compared to January, home sales are up considerably compared to last year, especially in Pleasanton showing a 92% increase.
So what can affect this aggressive seller’s market in the Tri-Valley area?
Well, since the majority of these home purchases are financed, it’s interest rates. According to Freddie Mac survey, just from last week, rates went up approximately a quarter of a percent. So with higher interest rates, this means some buyers may have to lower their purchase price.
The other issue with increased interest rates is the buyer’s debt to income ratio is affected since their monthly mortgage payment is higher. This could reduce the number of buyers who depend on financing. This wraps up my Tri-Valley real estate market review.
I hope you enjoyed this article. Please reach out to me directly for any questions you may have. Warren
Hello…I work with both buyers and sellers in the Tri-Valley area of Northern California. The Tri-Valley is comprised of 6 cities: Pleasanton, Livermore, Dublin, San Ramon, Danville, and Alamo. To better understand what each city has to offer, I have created a Pros and Cons video and BLOG for each – (Pros & Cons for Pleasanton, Pros & Cons for Livermore, Pros & Cons for Dublin, Pros & Cons for San Ramon, Pros & Cons for Danville and Pros & Cons for Alamo). If you are thinking about purchasing or selling a home, please reach out to me by text, phone, or email. If it is convenient, I can schedule a Zoom chat so we can discuss your home goals. Wishing you all the best on your home journey. Cheers!
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