Home sales are falling from their pandemic fueled highs. The challenges are due to the sharp increase in mortgage rates this year and housing inventory shortage. For example, April 2021 to April 2022 inventory is down 4.1%. This can all mean that buyers have less spending power but more choices for housing and less competition. If sellers price just right, they can sell for a good profit especially if they have owned for a while. Of the 923 listings in San Mateo County, 197 have had a price reduction. The lesson: if you’re a seller find out at what price point you need to be at so you minimize your price drops and if you’re a buyer, how are you going to put your offer together to get it accepted? The condo here at 324 Catalpa Street #309 San Mateo started at $448,000 and is now at $399,000. Call me for a showing!
Advanced Search
Your search results
