Real estate market conditions in Alamo, CA
The last six months has seen a shift in the market across the northern California region. Even locations that seems to defy gravity have started to come back to earth, (I’m thinking of you San Francisco). It’s no longer true that simply putting a sign in your yard will result is multiple offers, over asking . Those days are pretty much gone. But sellers, don’t despair. Homes are still selling at a good clip. The secret is the work sellers are willing to do on their property before putting it on the market.
Smart sellers are taking their emotion out of the selling process and looking at their homes with a hyper critical eye. They’re asking themselves “would I pay my asking price for this house?” Also, if they have a target sales price in mind, they’re having their real estate agent pull up all the sold home in their area that closed escrow around that same price. They are then asking themselves “how does my house stack up to the competition?”
Taking an objective evaluation of your home’s current condition, location and price expectations will tell you what you need to do to maximize your net proceeds from a sale. Remember, bathroom and kitchens sell houses. If your’s are stuck in the 1980’s, it’s time to make a decision. Do you bite the bullet and move forward with a remodel, or do you set your expectations lower in terms of sales price. In this market you can’t get it both ways. to understand more about real estate market conditions in Alamo, CA, this is what Trulia has to say: Market trends help you understand the movement of key price indicators. Trends in Alamo show a -2% year-over-year drop in median sales price and a -3% drop in median rent per month. See the full report here.